LPL Financial LLC Boosts Stake in Brixmor Property Group Inc. (NYSE:BRX)

Key Points

• LPL Financial LLC increased its stake in Brixmor Property Group Inc. by 81.6%, now owning 133,785 shares valued at approximately $3.55 million.
• Brixmor reported a quarterly revenue of $339.40 million, exceeding analysts' expectations, and an EPS of $0.56, beating the consensus estimate by $0.01.
• The company announced a quarterly dividend of $0.2875 per share, with a dividend yield of 4.3% and a payout ratio of 104.55%.

LPL Financial LLC boosted its stake in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 81.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,785 shares of the real estate investment trust's stock after buying an additional 60,112 shares during the period. LPL Financial LLC's holdings in Brixmor Property Group were worth $3,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Northern Trust Corp increased its position in Brixmor Property Group by 96.2% during the 4th quarter. Northern Trust Corp now owns 4,870,342 shares of the real estate investment trust's stock valued at $135,590,000 after buying an additional 2,388,264 shares in the last quarter. Deutsche Bank AG increased its position in shares of Brixmor Property Group by 31.3% in the 4th quarter. Deutsche Bank AG now owns 5,882,828 shares of the real estate investment trust's stock valued at $163,778,000 after acquiring an additional 1,404,034 shares during the period. Clark Capital Management Group Inc. increased its position in shares of Brixmor Property Group by 406.2% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,516,041 shares of the real estate investment trust's stock valued at $42,207,000 after acquiring an additional 1,216,548 shares during the period. Allianz Asset Management GmbH increased its position in shares of Brixmor Property Group by 142.1% in the 1st 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 acquiring an additional 900,352 shares during the period. Finally, Hudson Bay Capital Management LP increased its position in shares of Brixmor Property Group by 109.3% in the 4th quarter. Hudson Bay Capital Management LP now owns 1,680,482 shares of the real estate investment trust's stock valued at $46,785,000 after acquiring an additional 877,733 shares during the period. Hedge funds and other institutional investors own 98.43% of the company's stock.

Brixmor Property Group Price Performance

NYSE:BRX opened at $26.44 on Friday. Brixmor Property Group Inc. has a 52 week low of $22.28 and a 52 week high of $30.67. 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 capitalization of $8.09 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.73 and a beta of 1.29. The stock's 50-day moving average price is $25.90 and its 200-day moving average price is $25.89.

Brixmor Property Group (NYSE:BRX - Get Free Report) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.56 EPS for the quarter, beating 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 last year, the firm earned $0.54 EPS. The company's quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities analysts expect that Brixmor Property Group Inc. will post 2.22 EPS for the current fiscal year.

Brixmor Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 4.3%. Brixmor Property Group's dividend payout ratio (DPR) is 104.55%.

Analysts Set New Price Targets

Several research firms recently issued reports on BRX. The Goldman Sachs Group cut their target price on 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 report on Tuesday, July 29th. UBS Group began coverage on Brixmor Property Group in a research report on Friday, May 30th. They issued a "buy" rating and a $29.00 target price on the stock. Mizuho raised Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 target price on the stock in a research report on Thursday, July 17th. Finally, Scotiabank cut their target price on Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating on the stock in a research report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.08.

Brixmor Property Group 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.

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