LSV Asset Management Reduces Position in Brixmor Property Group Inc. (NYSE:BRX)

Key Points

• LSV Asset Management has reduced its stake in Brixmor Property Group Inc. by 10.2%, owning approximately 1.48 million shares, valued at around $39.24 million as of the latest SEC filing.
• Brixmor recently reported a quarterly EPS of $0.56, exceeding analyst expectations, with a revenue of $339.4 million, reflecting a year-over-year increase of 7.5%.
• The company declared a quarterly dividend of $0.2875 per share, with a payout ratio of 104.55% and an annualized dividend yield of 4.4%.

LSV Asset Management trimmed its stake in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 10.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,477,900 shares of the real estate investment trust's stock after selling 168,769 shares during the period. LSV Asset Management owned about 0.48% of Brixmor Property Group worth $39,238,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. IFG Advisory LLC purchased a new position in shares of Brixmor Property Group in the 1st quarter worth about $227,000. US Bancorp DE boosted its holdings in Brixmor Property Group by 6.0% during the first quarter. US Bancorp DE now owns 8,548 shares of the real estate investment trust's stock worth $227,000 after buying an additional 484 shares in the last quarter. Natixis Advisors LLC increased its position in Brixmor Property Group by 0.4% in the 1st quarter. Natixis Advisors LLC now owns 133,711 shares of the real estate investment trust's stock worth $3,550,000 after purchasing an additional 519 shares during the last quarter. Vestcor Inc lifted its stake in Brixmor Property Group by 53.9% in the first quarter. Vestcor Inc now owns 174,311 shares of the real estate investment trust's stock valued at $4,628,000 after acquiring an additional 61,076 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in Brixmor Property Group by 81.6% during the first quarter. LPL Financial LLC now owns 133,785 shares of the real estate investment trust's stock valued at $3,552,000 after buying an additional 60,112 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Brixmor Property Group Stock Down 1.7%

Shares of BRX stock traded down $0.45 during mid-day trading on Thursday, reaching $26.07. 1,257,410 shares of the company's stock traded hands, compared to its average volume of 2,423,860. 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 company's 50-day moving average price is $25.77 and its 200-day moving average price is $25.90. Brixmor Property Group Inc. has a 12 month low of $22.28 and a 12 month high of $30.67. The company has a market cap of $7.98 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.73 and a beta of 1.29.

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 EPS for the quarter, beating 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 firm's revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. On average, equities analysts expect that Brixmor Property Group Inc. will post 2.22 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a $0.2875 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $1.15 dividend on an annualized basis and a yield of 4.4%. Brixmor Property Group's dividend payout ratio (DPR) is presently 104.55%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BRX shares. Stifel Nicolaus reduced their price target on shares of Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Mizuho raised shares of Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 price objective for the company in a report on Thursday, July 17th. The Goldman Sachs Group lowered their price target on shares of Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Scotiabank reduced their target price on shares of Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating on the stock in a research note on Monday, May 12th. Finally, UBS Group assumed coverage on Brixmor Property Group in a research report on Friday, May 30th. They set a "buy" rating and a $29.00 target price for the company. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.