Brixmor Property Group Inc. $BRX Shares Purchased by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments more than doubled its Brixmor stake, purchasing 808,010 additional shares in the third quarter to own 1.52 million shares valued at approximately $41.8 million. Institutional investors collectively hold 98.43% of BRX stock.
• Brixmor reported quarterly earnings of $0.60 per share, exceeding estimates by $0.01, while revenue rose 5.5% year over year to $359.6 million.
• The REIT raised its quarterly dividend to $0.33 per share, implying a 4.7% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $33.45, compared with a recent share price of $28.17.

Miller Howard Investments Inc. NY raised its stake in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 114.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,515,255 shares of the real estate investment trust's stock after buying an additional 808,010 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.49% of Brixmor Property Group worth $41,821,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC raised its holdings in shares of Brixmor Property Group by 4.0% during 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 during the period. GAMMA Investing LLC boosted its stake in Brixmor Property Group by 5.2% in the 3rd quarter. GAMMA Investing LLC now owns 8,450 shares of the real estate investment trust's stock worth $233,000 after purchasing an additional 416 shares during the period. Parkside Financial Bank & Trust increased its holdings in Brixmor Property Group by 103.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 876 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 446 shares in the last quarter. Versant Capital Management Inc increased its holdings in Brixmor Property Group by 34.7% during the 3rd quarter. Versant Capital Management Inc now owns 1,753 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 452 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of Brixmor Property Group by 0.9% in 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 purchasing an additional 459 shares during the period. Institutional investors and hedge funds own 98.43% of the company's stock.

Brixmor Property Group Stock Performance

Shares of NYSE BRX opened at $28.17 on Tuesday. The stock has a 50 day moving average price of $28.30 and a 200 day moving average price of $29.46. Brixmor Property Group Inc. has a 52 week low of $24.66 and a 52 week high of $32.86. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $8.64 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.18 and a beta of 0.97.

Brixmor Property Group (NYSE:BRX - Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.01. The firm had revenue of $359.60 million during the quarter, compared to the consensus estimate of $357.28 million. Brixmor Property Group had a return on equity of 14.38% and a net margin of 30.82%. The business's revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. Analysts predict that Brixmor Property Group Inc. will post 2.36 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, January 5th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, January 5th. This is a boost from Brixmor Property Group's previous quarterly dividend of $0.3075. Brixmor Property Group's payout ratio is currently 87.86%.

Analyst Upgrades and Downgrades

BRX has been the topic of several recent research reports. Wells Fargo & Company raised Brixmor Property Group to a "hold" rating in a research note on Thursday, July 23rd. Truist Financial assumed coverage on Brixmor Property Group in a research report on Friday, October 2nd. They set a "buy" rating and a $31.00 price objective for the company. Citigroup increased their price objective on Brixmor Property Group from $31.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Piper Sandler decreased their price objective on Brixmor Property Group from $40.00 to $36.00 and set an "overweight" rating for the company in a report on Monday, October 12th. Finally, Stifel Nicolaus lifted their target price on Brixmor Property Group from $31.00 to $34.00 and gave the company a "hold" rating in a research report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.45.

About Brixmor Property Group

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 focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.

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