Cbre Investment Management Listed Real Assets LLC Sells 414,289 Shares of Brixmor Property Group Inc. $BRX

Key Points

• Cbre Investment Management Listed Real Assets LLC reduced its stake in Brixmor Property Group by 13.6%, owning approximately 0.86% of the company after selling 414,289 shares in the first quarter.
• Brixmor Property Group reported $0.56 EPS for its last quarter, surpassing expectations, with a revenue of $339.40 million and a year-over-year growth of 7.5%.
• The company declared a quarterly dividend of $0.2875 to be paid on October 15, 2023, resulting in an annual yield of 4.1%.

Cbre Investment Management Listed Real Assets LLC reduced its stake in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 13.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,626,152 shares of the real estate investment trust's stock after selling 414,289 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned about 0.86% of Brixmor Property Group worth $69,724,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Transcend Capital Advisors LLC acquired a new position in shares of Brixmor Property Group in the 1st quarter valued at approximately $356,000. Principal Financial Group Inc. increased its holdings in shares of Brixmor Property Group by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 703,559 shares of the real estate investment trust's stock worth $18,679,000 after acquiring an additional 11,040 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Brixmor Property Group by 54.6% during the 1st quarter. Fifth Third Bancorp now owns 4,609 shares of the real estate investment trust's stock worth $122,000 after acquiring an additional 1,628 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Brixmor Property Group by 9.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,622 shares of the real estate investment trust's stock worth $255,000 after acquiring an additional 861 shares during the last quarter. Finally, Tower View Wealth Management LLC acquired a new position in Brixmor Property Group in the 1st quarter valued at $328,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Brixmor Property Group Trading Up 1.8%

NYSE BRX traded up $0.49 on Wednesday, hitting $28.08. The company's stock had a trading volume of 1,863,959 shares, compared to its average volume of 2,385,415. Brixmor Property Group Inc. has a 52-week low of $22.28 and a 52-week high of $30.67. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73. The company's 50-day simple moving average is $26.11 and its 200 day simple moving average is $25.94. The firm has a market cap of $8.60 billion, a P/E ratio of 25.53, a PEG ratio of 2.61 and a beta of 1.29.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. Brixmor Property Group had a return on equity of 11.39% and a net margin of 25.27%.The company had revenue of $339.40 million for the quarter, compared to analyst estimates of $332.59 million. During the same period in the previous year, the company posted $0.54 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. Brixmor Property Group has set its FY 2025 guidance at 2.220-2.250 EPS. Research analysts predict that Brixmor Property Group Inc. will post 2.22 EPS for the current fiscal year.

Brixmor Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a $0.2875 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.1%. Brixmor Property Group's dividend payout ratio is 104.55%.

Analysts Set New Price Targets

BRX has been the topic of several analyst reports. UBS Group began coverage on Brixmor Property Group in a report on Friday, May 30th. They set a "buy" rating and a $29.00 target price on the stock. Wells Fargo & Company increased their target price on Brixmor Property Group from $26.00 to $28.00 and gave the company an "equal weight" rating in a research report on Wednesday. Stifel Nicolaus lowered their price objective on Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, July 29th. Scotiabank decreased their target price on Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating for the company in a research note on Monday, May 12th. Finally, The Goldman Sachs Group decreased their target price on Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Brixmor Property Group has a consensus rating of "Moderate Buy" and an average price target of $30.33.

Brixmor Property Group Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.