Harvest Fund Management Co. Ltd Decreases Stake in Brixmor Property Group Inc. (NYSE:BRX)

Key Points

• Harvest Fund Management Co. Ltd significantly reduced its stake in Brixmor Property Group Inc. by 90.3% during the first quarter, lowering its holdings to just 1,239 shares worth $33,000.
• Despite Harvest's reduction, other investors like LPL Financial LLC and National Bank of Canada FI increased their stakes, demonstrating ongoing interest from institutional investors, who collectively own 98.43% of the company.
• Brixmor Property Group recently announced a quarterly dividend of $0.2875, representing an annualized dividend yield of 4.5%, with a payout ratio currently at 104.55%.

Harvest Fund Management Co. Ltd lowered its position in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 90.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,239 shares of the real estate investment trust's stock after selling 11,587 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Brixmor Property Group were worth $33,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BRX. LPL Financial LLC grew its holdings in shares of Brixmor Property Group by 83.8% during 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 in the last quarter. National Bank of Canada FI lifted its position in Brixmor Property Group by 4.9% in the fourth quarter. National Bank of Canada FI now owns 231,800 shares of the real estate investment trust's stock valued at $6,453,000 after purchasing an additional 10,900 shares during the last quarter. Geode Capital Management LLC raised 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 valued at $157,450,000 after acquiring an additional 38,911 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Brixmor Property Group during the fourth quarter valued at approximately $26,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of Brixmor Property Group during the fourth quarter valued at approximately $20,271,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. The Goldman Sachs Group decreased their target price on Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a report on Thursday, May 1st. UBS Group assumed coverage on Brixmor Property Group in a report on Friday, May 30th. They set a "buy" rating and a $29.00 target price for the company. Mizuho upgraded Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 target price for the company in a report on Thursday, July 17th. Scotiabank decreased their target price on Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating for the company in a report on Monday, May 12th. Finally, Stifel Nicolaus decreased 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. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Brixmor Property Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $30.08.

Brixmor Property Group Price Performance

Shares of BRX stock opened at $25.45 on Friday. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.70 and a beta of 1.29. The business's fifty day moving average is $25.69 and its 200 day moving average is $25.90. Brixmor Property Group Inc. has a twelve month low of $22.28 and a twelve month high of $30.67. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 1.73.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. Brixmor Property Group had a return on equity of 11.39% and a net margin of 25.27%. The firm had revenue of $339.40 million for the quarter, compared to analysts' expectations of $332.59 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. Research analysts expect that Brixmor Property Group Inc. will post 2.22 EPS for the current fiscal year.

Brixmor Property Group Dividend Announcement

The business also recently announced 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. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, October 2nd. Brixmor Property Group's dividend 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.

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