Brixmor Property Group Inc. (NYSE:BRX) Shares Sold by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management LLC reduced its stake in Brixmor Property Group by 1.7% during the first quarter, holding 8,049,652 shares after selling 142,127 shares.
• Brixmor Property Group recently reported a quarterly earnings per share of $0.56, exceeding analysts' expectations, with a revenue of $339.40 million for the quarter.
• The company has declared a quarterly dividend of $0.2875, yielding 4.4%, with a dividend payout ratio currently at 104.55%.

Centersquare Investment Management LLC trimmed its holdings in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,049,652 shares of the real estate investment trust's stock after selling 142,127 shares during the period. Brixmor Property Group makes up about 2.2% of Centersquare Investment Management LLC's portfolio, making the stock its 15th biggest position. Centersquare Investment Management LLC owned about 2.63% of Brixmor Property Group worth $213,718,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Transcend Capital Advisors LLC purchased a new position in Brixmor Property Group during the first quarter worth approximately $356,000. Principal Financial Group Inc. lifted its position 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 valued at $18,679,000 after buying an additional 11,040 shares in the last quarter. Fifth Third Bancorp grew its stake in Brixmor Property Group by 54.6% in the 1st quarter. Fifth Third Bancorp now owns 4,609 shares of the real estate investment trust's stock valued at $122,000 after acquiring an additional 1,628 shares during the period. Janney Montgomery Scott LLC grew its stake in Brixmor Property Group by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,622 shares of the real estate investment trust's stock valued at $255,000 after acquiring an additional 861 shares during the period. Finally, Tower View Wealth Management LLC purchased a new stake in Brixmor Property Group in the 1st quarter worth $328,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Brixmor Property Group Trading Down 2.2%

NYSE BRX traded down $0.56 on Friday, reaching $25.55. 1,176,364 shares of the company were exchanged, compared to its average volume of 2,371,119. Brixmor Property Group Inc. has a fifty-two week low of $22.28 and a fifty-two 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 business's fifty day moving average price is $25.78 and its 200 day moving average price is $25.89. The stock has a market capitalization of $7.82 billion, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 2.70 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 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 firm had revenue of $339.40 million for the quarter, compared to analyst estimates of $332.59 million. During the same quarter in the previous year, the company earned $0.54 EPS. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts forecast that Brixmor Property Group Inc. will post 2.22 earnings per share for the current year.

Brixmor Property Group Announces Dividend

The company 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 4.5%. Brixmor Property Group's payout ratio is presently 104.55%.

Wall Street Analyst Weigh In

BRX has been the topic of several recent analyst reports. Scotiabank decreased their price objective on shares of Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating on the stock in a report on Monday, May 12th. UBS Group assumed coverage on shares of Brixmor Property Group in a research note on Friday, May 30th. They issued a "buy" rating and a $29.00 price target on the stock. The Goldman Sachs Group cut their price objective 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. Stifel Nicolaus reduced their target price on Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Finally, 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 research note on Thursday, July 17th. Two 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.com, Brixmor Property Group currently has a consensus rating of "Moderate Buy" and an average price target of $30.08.

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.