Brixmor Property Group Inc. $BRX Stock Position Increased by Inspire Investing LLC

Key Points

• Inspire Investing increased its Brixmor Property Group stake by 126.4% in the third quarter, ending with 73,890 shares valued at approximately $2.04 million. Institutional investors collectively own 98.43% of BRX.
• BRX opened at $28.15, near the middle of its 52-week range, while the company’s latest quarterly EPS of $0.24 missed the $0.58 consensus estimate; revenue rose 4.3% year over year to $354.2 million.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $33.45, despite several firms recently lowering their targets.

Inspire Investing LLC grew its position in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 126.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,890 shares of the real estate investment trust's stock after purchasing an additional 41,252 shares during the period. Inspire Investing LLC's holdings in Brixmor Property Group were worth $2,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BRX. BlackRock Inc. purchased a new stake in shares of Brixmor Property Group in the second quarter valued at $1,265,950,000. Canada Pension Plan Investment Board purchased a new position in Brixmor Property Group in the second quarter valued at approximately $180,406,000. Principal Financial Group Inc. boosted its position in Brixmor Property Group by 686.1% during the 1st quarter. Principal Financial Group Inc. now owns 5,176,486 shares of the real estate investment trust's stock worth $149,083,000 after purchasing an additional 4,518,001 shares during the period. Dimensional Fund Advisors LP increased its holdings in Brixmor Property Group by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,790,090 shares of the real estate investment trust's stock valued at $137,955,000 after purchasing an additional 64,449 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in Brixmor Property Group in the second quarter valued at about $122,922,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Brixmor Property Group Trading Up 0.1%

Brixmor Property Group stock opened at $28.15 on Monday. Brixmor Property Group Inc. has a 52-week low of $24.66 and a 52-week high of $32.86. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.18 and a beta of 0.97. The firm has a 50-day moving average price of $28.32 and a two-hundred day moving average price of $29.97.

Brixmor Property Group (NYSE:BRX - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $354.20 million for the quarter, compared to analyst estimates of $354.39 million. Brixmor Property Group had a return on equity of 14.38% and a net margin of 30.82%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Sell-side analysts expect that Brixmor Property Group Inc. will post 2.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on BRX. Truist Financial began coverage on Brixmor Property Group in a report on Friday, October 2nd. They issued a "buy" rating and a $31.00 price target for the company. Wells Fargo & Company raised shares of Brixmor Property Group to a "hold" rating in a research report on Thursday, July 23rd. Mizuho decreased their price objective on shares of Brixmor Property Group from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, September 24th. Piper Sandler reduced their target price on Brixmor Property Group from $40.00 to $36.00 and set an "overweight" rating on the stock in a report on Monday, October 12th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Brixmor Property Group in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Brixmor Property Group presently has an average rating of "Moderate Buy" and an average price target of $33.45.

Brixmor Property Group Company 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 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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