Brixmor Property Group Inc. $BRX Stock: Sumitomo Mitsui Trust Group Inc. Grows Stake

Key Points

• Sumitomo Mitsui Trust Group increased its Brixmor stake by 12.2% in the third quarter, to 378,306 shares valued at about $10.4 million. Institutional investors collectively own 98.43% of the REIT.
• Analysts rate BRX a “Moderate Buy”, with a consensus price target of $32.95; shares were trading at $30.04 in the article.
• Brixmor’s latest quarterly EPS of $0.28 missed the $0.59 consensus, though revenue rose 5.5% year over year. The company raised its quarterly dividend to $0.33, equivalent to a 4.4% yield.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 378,306 shares of the real estate investment trust's stock after purchasing an additional 41,030 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.12% of Brixmor Property Group worth $10,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BRX. BlackRock Inc. purchased a new stake in shares of Brixmor Property Group in the second quarter worth approximately $1,265,950,000. Canada Pension Plan Investment Board purchased a new position in shares of Brixmor Property Group during the second quarter valued at approximately $180,406,000. Principal Financial Group Inc. boosted its position in shares of Brixmor Property Group by 686.1% during the first quarter. Principal Financial Group Inc. now owns 5,176,486 shares of the real estate investment trust's stock valued at $149,083,000 after buying an additional 4,518,001 shares during the last quarter. Deutsche Bank AG bought a new stake in Brixmor Property Group during the second quarter worth $122,922,000. Finally, Bank of America Corp DE bought a new stake in Brixmor Property Group during the second quarter worth $90,382,000. Institutional investors own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BRX. Wells Fargo & Company upgraded Brixmor Property Group to a "hold" rating in a research note on Thursday, July 23rd. Stifel Nicolaus reduced their target price on shares of Brixmor Property Group from $32.00 to $30.50 and set a "hold" rating for the company in a research note on Tuesday, October 27th. UBS Group reduced their target price on shares of Brixmor Property Group from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, October 9th. Mizuho lowered their target price 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. Finally, KeyCorp reissued an "overweight" rating and set a $34.00 price target on shares of Brixmor Property Group in a research report on Wednesday, October 7th. Two 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's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $32.95.

Brixmor Property Group Stock Performance

NYSE:BRX traded up $0.10 during trading on Friday, reaching $30.04. The company's stock had a trading volume of 4,369,909 shares, compared to its average volume of 2,979,601. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 2.28 and a beta of 0.95. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50 day moving average of $28.28 and a 200-day moving average of $29.61. Brixmor Property Group Inc. has a 12 month low of $24.66 and a 12 month high of $32.86.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its earnings results on Monday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.31). The business had revenue of $359.60 million for the quarter, compared to the consensus estimate of $357.28 million. Brixmor Property Group had a return on equity of 14.10% and a net margin of 29.96%. The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. Research analysts expect that Brixmor Property Group Inc. will post 2.37 EPS 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. Shareholders of record on Tuesday, January 5th will be given a $0.33 dividend. This is a positive change from Brixmor Property Group's previous quarterly dividend of $0.3075. This represents a $1.32 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, January 5th. Brixmor Property Group's payout ratio is presently 89.78%.

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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