Dover Advisors LLC Sells 10,732 Shares of Brixmor Property Group Inc. $BRX

Key Points

• Dover Advisors LLC reduced its stake in Brixmor Property Group by 32.3%, selling 10,732 shares, and now holds 22,500 shares worth $586,000.
• Brixmor Property Group recently declared a quarterly dividend of $0.2875, equating to an annualized yield of 4.1%, despite having a dividend payout ratio of 104.55%.
• Analysts have rated Brixmor Property Group with an average rating of "Moderate Buy" and a price target of approximately $30.58, reflecting optimism in the company's performance.

Dover Advisors LLC cut its holdings in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 32.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 22,500 shares of the real estate investment trust's stock after selling 10,732 shares during the period. Dover Advisors LLC's holdings in Brixmor Property Group were worth $586,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in Brixmor Property Group by 28.2% during the 1st quarter. Ameriprise Financial Inc. now owns 6,991,336 shares of the real estate investment trust's stock worth $185,615,000 after purchasing an additional 1,537,737 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Brixmor Property Group in the 1st quarter valued at about $34,702,000. Strs Ohio acquired a new stake in shares of Brixmor Property Group in the 1st quarter valued at about $31,061,000. Nuveen LLC acquired a new stake in Brixmor Property Group during the first quarter worth about $28,401,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Brixmor Property Group by 142.1% in the first quarter. Allianz Asset Management GmbH now owns 1,533,745 shares of the real estate investment trust's stock valued at $40,721,000 after purchasing an additional 900,352 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Brixmor Property Group

In other news, insider Steven F. Siegel sold 25,000 shares of the company's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $28.21, for a total value of $705,250.00. Following the completion of the transaction, the insider owned 302,657 shares in the company, valued at $8,537,953.97. This represents a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

BRX has been the topic of several analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Brixmor Property Group in a research note on Tuesday, September 9th. They issued a "buy" rating and a $32.00 price target on the stock. Mizuho increased their price objective on shares of Brixmor Property Group from $29.00 to $30.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Stifel Nicolaus cut their target price on shares of Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a research report on Tuesday, July 29th. Scotiabank increased their target price on shares of Brixmor Property Group from $30.00 to $31.00 and gave the stock a "sector outperform" rating in a research report on Monday. Finally, Evercore ISI increased their target price on shares of Brixmor Property Group from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Monday. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.75.

Brixmor Property Group Stock Performance

NYSE BRX traded down $0.30 during midday trading on Friday, hitting $27.55. The company had a trading volume of 806,157 shares, compared to its average volume of 2,337,916. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.73. The stock has a market cap of $8.43 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 2.63 and a beta of 1.32. The firm has a fifty day simple moving average of $26.82 and a two-hundred day simple moving average of $26.01. Brixmor Property Group Inc. has a fifty-two week low of $22.28 and a fifty-two week high of $30.67.

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, topping analysts' consensus estimates 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 company had revenue of $339.40 million during the quarter, compared to the consensus estimate of $332.59 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The company's revenue was up 7.5% on a year-over-year basis. Brixmor Property Group has set its FY 2025 guidance at 2.220-2.250 EPS. Equities analysts forecast that Brixmor Property Group Inc. will post 2.22 earnings per share for the current fiscal year.

Brixmor Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be issued a dividend of $0.2875 per share. The ex-dividend date is Thursday, October 2nd. This represents a $1.15 dividend on an annualized basis and a yield of 4.2%. Brixmor Property Group's payout ratio is currently 104.55%.

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.