Brixmor Property Group Inc. (NYSE:BRX) Shares Sold by RWC Asset Management LLP

Key Points

• RWC Asset Management LLP reduced its stake in Brixmor Property Group by 4.3%, selling 44,011 shares, which now represent about 1.3% of their total holdings.
• Brixmor Property Group reported a quarterly EPS of $0.56, exceeding estimates, and a revenue of $337.51 million, reflecting a 5.4% year-over-year increase.
• The company declared a quarterly dividend of $0.2875, resulting in an annualized yield of 4.49%, though its payout ratio stands at 109.52%.

RWC Asset Management LLP lessened its position in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 983,350 shares of the real estate investment trust's stock after selling 44,011 shares during the quarter. Brixmor Property Group accounts for approximately 1.3% of RWC Asset Management LLP's portfolio, making the stock its 23rd largest holding. RWC Asset Management LLP owned about 0.32% of Brixmor Property Group worth $26,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its position in Brixmor Property Group by 9.5% in the 4th quarter. Corient Private Wealth LLC now owns 16,654 shares of the real estate investment trust's stock worth $464,000 after purchasing an additional 1,446 shares during the period. LPL Financial LLC grew its holdings in shares of Brixmor Property Group by 83.8% in the fourth quarter. LPL Financial LLC now owns 73,673 shares of the real estate investment trust's stock worth $2,051,000 after purchasing an additional 33,580 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Brixmor Property Group by 1.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 199,883 shares of the real estate investment trust's stock valued at $5,515,000 after buying an additional 3,296 shares during the period. Elo Mutual Pension Insurance Co purchased a new stake in shares of Brixmor Property Group during the fourth quarter worth about $283,000. Finally, Norges Bank bought a new position in Brixmor Property Group in the 4th quarter worth $110,205,000. Institutional investors own 98.43% of the company's stock.

Brixmor Property Group Price Performance

Shares of NYSE BRX traded down $0.26 during mid-day trading on Thursday, reaching $26.31. The company's stock had a trading volume of 831,201 shares, compared to its average volume of 2,434,507. The stock has a market capitalization of $8.05 billion, a P/E ratio of 23.85, a P/E/G ratio of 2.73 and a beta of 1.23. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.75 and a current ratio of 0.74. Brixmor Property Group Inc. has a 1-year low of $22.28 and a 1-year high of $30.67. The stock has a 50-day moving average of $25.61 and a two-hundred day moving average of $25.90.

Brixmor Property Group (NYSE:BRX - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Brixmor Property Group had a net margin of 25.27% and a return on equity of 11.39%. The business had revenue of $339.40 million during the quarter, compared to analyst estimates of $332.59 million. During the same quarter last year, the firm posted $0.54 earnings per share. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. On average, equities research analysts anticipate that Brixmor Property Group Inc. will post 2.22 EPS for the current fiscal year.

Brixmor Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 4.37%. The ex-dividend date is Thursday, October 2nd. Brixmor Property Group's dividend payout ratio (DPR) is presently 104.55%.

Analyst Upgrades and Downgrades

BRX has been the subject of a number of analyst reports. Scotiabank decreased their target price on shares of 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. Mizuho raised Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 price target on the stock in a report on Thursday, July 17th. The Goldman Sachs Group decreased their target price on shares of 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 cut their target price on Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating on the stock in a research note on Tuesday. Finally, UBS Group initiated coverage on shares of Brixmor Property Group in a report on Friday, May 30th. They set a "buy" rating and a $29.00 price objective for the company. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $30.14.

About Brixmor Property Group

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.