Harvest Fund Management Co. Ltd Reduces Position 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 lessened its position in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 90.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BRX. Transcend Capital Advisors LLC purchased a new stake in Brixmor Property Group in the first quarter worth about $356,000. Principal Financial Group Inc. boosted its holdings in Brixmor Property Group by 1.6% in the first quarter. Principal Financial Group Inc. now owns 703,559 shares of the real estate investment trust's stock worth $18,679,000 after purchasing an additional 11,040 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Brixmor Property Group by 54.6% in the first quarter. Fifth Third Bancorp now owns 4,609 shares of the real estate investment trust's stock worth $122,000 after purchasing an additional 1,628 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Brixmor Property Group by 9.8% in the first quarter. Janney Montgomery Scott LLC now owns 9,622 shares of the real estate investment trust's stock worth $255,000 after purchasing an additional 861 shares during the last quarter. Finally, Tower View Wealth Management LLC bought a new stake in Brixmor Property Group during the first quarter valued at approximately $328,000. Institutional investors own 98.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BRX shares. The Goldman Sachs Group dropped their price target on shares of Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. UBS Group started 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. Scotiabank lowered 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 report on Monday, May 12th. Stifel Nicolaus dropped their price objective on shares of 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. Finally, Mizuho raised shares of Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 target price for the company in a research report on Thursday, July 17th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $30.08.

Brixmor Property Group Stock Performance

BRX traded up $0.19 on Wednesday, reaching $26.58. The stock had a trading volume of 901,928 shares, compared to its average volume of 2,426,748. Brixmor Property Group Inc. has a 12-month low of $22.28 and a 12-month 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 50-day moving average price is $25.74 and its two-hundred day moving average price is $25.89. The company has a market cap of $8.13 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.68 and a beta of 1.29.

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. The business had revenue of $339.40 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 earnings per share. Sell-side analysts forecast that Brixmor Property Group Inc. will post 2.22 earnings per share for the current year.

Brixmor Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given 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 4.3%. 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.