Bank of America Corp DE Purchases Shares of 2,866,530 Brixmor Property Group Inc. $BRX

Key Points

• Bank of America acquired 2.87 million Brixmor shares worth approximately $90.4 million, giving it a 0.93% stake. Institutional investors collectively own 98.43% of BRX.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $34.80 versus the stock’s $27.98 price in the report.
• Brixmor reported quarterly EPS of $0.24, below the $0.58 consensus estimate, while revenue rose 4.3% year over year. The REIT declared a $0.3075 quarterly dividend, equivalent to a 4.4% annual yield.

Bank of America Corp DE acquired a new position in Brixmor Property Group Inc. (NYSE:BRX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,866,530 shares of the real estate investment trust's stock, valued at approximately $90,382,000. Bank of America Corp DE owned about 0.93% of Brixmor Property Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its position in Brixmor Property Group by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,775 shares of the real estate investment trust's stock worth $310,000 after acquiring an additional 413 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Brixmor Property Group by 0.9% during the 1st quarter. IFM Investors Pty Ltd now owns 50,073 shares of the real estate investment trust's stock valued at $1,442,000 after buying an additional 459 shares during the period. Clearstead Advisors LLC raised its stake in shares of Brixmor Property Group by 96.9% in the fourth quarter. Clearstead Advisors LLC now owns 1,006 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 495 shares during the period. Private Advisor Group LLC lifted its stake in Brixmor Property Group by 9.7% in the first quarter. Private Advisor Group LLC now owns 8,863 shares of the real estate investment trust's stock worth $255,000 after purchasing an additional 783 shares during the last quarter. Finally, Brand Asset Management Group Inc. lifted its stake in shares of Brixmor Property Group by 11.4% during the 4th quarter. Brand Asset Management Group Inc. now owns 8,473 shares of the real estate investment trust's stock worth $222,000 after acquiring an additional 867 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of Brixmor Property Group from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Brixmor Property Group in a research note on Friday, July 31st. Citigroup boosted their price target on Brixmor Property Group from $31.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Piper Sandler increased their price objective on Brixmor Property Group from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company upgraded Brixmor Property Group to a "hold" rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Brixmor Property Group presently has a consensus rating of "Moderate Buy" and an average price target of $34.80.

Brixmor Property Group Stock Down 0.2%

BRX stock opened at $27.98 on Friday. The company has a market capitalization of $8.59 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 2.13 and a beta of 0.97. Brixmor Property Group Inc. has a 12 month low of $24.66 and a 12 month high of $32.86. The firm's fifty day simple moving average is $30.20 and its 200-day simple moving average is $30.29. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.82 and a quick ratio of 0.82.

Brixmor Property Group (NYSE:BRX - Get Free Report) last issued its earnings results on Monday, July 27th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.34). Brixmor Property Group had a return on equity of 14.38% and a net margin of 30.82%.The business had revenue of $354.20 million for the quarter, compared to analysts' expectations of $354.39 million. During the same period last year, the business earned $0.56 EPS. The company's revenue for the quarter was up 4.3% on a year-over-year basis. Brixmor Property Group has set its FY 2026 guidance at 2.350-2.370 EPS. As a group, equities research analysts forecast that Brixmor Property Group Inc. will post 2.36 earnings per share for the current year.

Brixmor Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, October 2nd will be issued a $0.3075 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $1.23 dividend on an annualized basis and a yield of 4.4%. Brixmor Property Group's payout ratio is presently 87.86%.

Brixmor Property Group Profile

Brixmor Property Group Inc NYSE: BRX is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily composed of grocery-anchored and necessity-based retail properties serving local communities and offering a mix of supermarkets, restaurants, service providers, and other consumer-oriented businesses.

The company's activities include leasing retail space, managing shopping-center properties, and investing in redevelopment and property enhancements designed to support tenant performance and improve the customer experience.

Want to see what other hedge funds are holding BRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brixmor Property Group Inc. (NYSE:BRX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.