Alberta Investment Management Corp Trims Stake in Brixmor Property Group Inc. (NYSE:BRX)

Key Points

• Alberta Investment Management Corp reduced its stake in Brixmor Property Group by 25.4%, selling 26,523 shares in the first quarter, bringing its total to 77,700 shares valued at approximately $2,063,000.
• Brixmor Property Group reported earnings of $0.56 per share for the last quarter, exceeding analysts' expectations, alongside a year-over-year revenue increase of 7.5% to $339.40 million.
• The company declared a quarterly dividend of $0.2875, which will be paid on October 15th, resulting in an annualized yield of 4.4% and a payout ratio of 104.55%.

Alberta Investment Management Corp reduced its holdings in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 25.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,700 shares of the real estate investment trust's stock after selling 26,523 shares during the quarter. Alberta Investment Management Corp's holdings in Brixmor Property Group were worth $2,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Canada Pension Plan Investment Board raised its stake in shares of Brixmor Property Group by 6.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,792,016 shares of the real estate investment trust's stock worth $216,930,000 after purchasing an additional 467,146 shares in the last quarter. Deutsche Bank AG boosted its stake in Brixmor Property Group by 31.3% in the 4th quarter. Deutsche Bank AG now owns 5,882,828 shares of the real estate investment trust's stock valued at $163,778,000 after buying an additional 1,404,034 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Brixmor Property Group by 61.1% during the fourth quarter. Invesco Ltd. now owns 5,748,492 shares of the real estate investment trust's stock worth $160,038,000 after purchasing an additional 2,180,541 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Brixmor Property Group by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 5,653,925 shares of the real estate investment trust's stock worth $157,450,000 after purchasing an additional 38,911 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Brixmor Property Group by 7.8% during the fourth quarter. Ameriprise Financial Inc. now owns 5,453,599 shares of the real estate investment trust's stock valued at $151,155,000 after acquiring an additional 393,317 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group initiated coverage on Brixmor Property Group in a report on Friday, May 30th. They issued a "buy" rating and a $29.00 price target for the company. The Goldman Sachs Group reduced their price objective on Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price objective on Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating on the stock in a research note on Tuesday, July 29th. Scotiabank lowered their price objective 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, Mizuho raised Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 price objective for the company in a report on Thursday, July 17th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Brixmor Property Group has an average rating of "Moderate Buy" and a consensus target price of $30.08.

Brixmor Property Group Stock Up 1.9%

BRX stock traded up $0.48 on Tuesday, reaching $26.39. 1,939,028 shares of the company traded hands, compared to its average volume of 2,485,765. Brixmor Property Group Inc. has a one year low of $22.28 and a one year high of $30.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.74 and a quick ratio of 0.74. The company has a market cap of $8.08 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 2.68 and a beta of 1.29. The firm has a fifty day simple moving average of $25.74 and a 200-day simple moving average of $25.89.

Brixmor Property Group (NYSE:BRX - Get Free Report) last announced its earnings results on Monday, July 28th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. The business had revenue of $339.40 million during the quarter, compared to analyst estimates of $332.59 million. Brixmor Property Group had a net margin of 25.27% and a return on equity of 11.39%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. Research analysts anticipate that Brixmor Property Group Inc. will post 2.22 earnings per share for the current 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 given a dividend of $0.2875 per share. 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 4.4%. Brixmor Property Group's payout ratio is presently 104.55%.

Brixmor Property Group Company 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.