Brixmor Property Group Inc. (NYSE:BRX) Shares Acquired by Vestcor Inc

Key Points

• Vestcor Inc has increased its holdings in Brixmor Property Group by 53.9%, acquiring an additional 61,076 shares, which brings its total ownership to 174,311 shares worth approximately $4.63 million.
• Brixmor Property Group announced a quarterly dividend of $0.2875 per share, reflecting an annual yield of 4.33%, with an anticipated dividend payout ratio of 109.52%.
• Several analysts have lowered their price targets for Brixmor Property Group, with the consensus target price now at $30.14 and a consensus rating of "Moderate Buy" based on the latest evaluations.

Vestcor Inc boosted its stake in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 53.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,311 shares of the real estate investment trust's stock after buying an additional 61,076 shares during the quarter. Vestcor Inc owned approximately 0.06% of Brixmor Property Group worth $4,628,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BRX. LPL Financial LLC increased its position in shares of 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 worth $3,552,000 after acquiring an additional 60,112 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Brixmor Property Group by 6.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 233,147 shares of the real estate investment trust's stock worth $6,190,000 after purchasing an additional 15,002 shares in the last quarter. Applied Finance Capital Management LLC purchased a new position in Brixmor Property Group during the 1st quarter worth $205,000. Assetmark Inc. increased its holdings in Brixmor Property Group by 7.0% during the 1st quarter. Assetmark Inc. now owns 30,394 shares of the real estate investment trust's stock worth $807,000 after purchasing an additional 1,985 shares during the period. Finally, Cetera Investment Advisers raised its position in Brixmor Property Group by 41.2% during the 1st quarter. Cetera Investment Advisers now owns 55,236 shares of the real estate investment trust's stock valued at $1,467,000 after purchasing an additional 16,123 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Brixmor Property Group Stock Up 1.9%

BRX stock traded up $0.48 on Monday, hitting $25.95. 787,512 shares of the company's stock were exchanged, compared to its average volume of 2,430,438. The firm has a 50 day moving average price of $25.69 and a two-hundred day moving average price of $25.89. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 0.74. Brixmor Property Group Inc. has a 12-month low of $22.28 and a 12-month high of $30.67. The stock has a market cap of $7.94 billion, a P/E ratio of 23.58, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29.

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

Brixmor Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.15 dividend on an annualized basis and a yield of 4.4%. Brixmor Property Group's payout ratio is currently 104.55%.

Wall Street Analysts Forecast Growth

BRX has been the topic of a number of recent research reports. Mizuho raised Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 price target on the stock in a research report on Thursday, July 17th. The Goldman Sachs Group lowered their price objective on shares of Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Stifel Nicolaus cut their target price on shares of 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. Scotiabank reduced their price target 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. Finally, UBS Group began coverage on shares of Brixmor Property Group in a report on Friday, May 30th. They set a "buy" rating and a $29.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Brixmor Property Group presently has an average rating of "Moderate Buy" and a consensus target price of $30.08.

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.