Vestcor Inc Acquires 61,076 Shares of Brixmor Property Group Inc. (NYSE:BRX)

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

A number of other large investors also recently modified their holdings of the company. Securian Asset Management Inc. raised its holdings in shares of Brixmor Property Group by 1.8% during the 1st quarter. Securian Asset Management Inc. now owns 23,235 shares of the real estate investment trust's stock valued at $617,000 after buying an additional 400 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Brixmor Property Group by 6.0% during the 4th quarter. Ascent Group LLC now owns 9,155 shares of the real estate investment trust's stock valued at $255,000 after buying an additional 521 shares in the last quarter. Quarry LP raised its holdings in shares of Brixmor Property Group by 39.0% during the 4th quarter. Quarry LP now owns 1,901 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 533 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Brixmor Property Group by 0.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 80,350 shares of the real estate investment trust's stock valued at $2,133,000 after buying an additional 559 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Brixmor Property Group by 5.6% during the 1st quarter. Ballentine Partners LLC now owns 11,967 shares of the real estate investment trust's stock valued at $318,000 after buying an additional 631 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRX has been the topic of a number of research reports. Scotiabank decreased their price objective on Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating on the stock in a report on Monday, May 12th. The Goldman Sachs Group lowered their price objective on Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price objective on Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a research report on Tuesday. Mizuho upgraded Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 price objective for the company in a research report on Thursday, July 17th. Finally, UBS Group initiated coverage on Brixmor Property Group in a research report on Friday, May 30th. They issued a "buy" rating and a $29.00 price objective for the company. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.08.

Brixmor Property Group Trading Down 2.6%

Shares of BRX traded down $0.68 during mid-day trading on Friday, hitting $25.45. 2,148,979 shares of the company's stock traded hands, compared to its average volume of 2,440,914. 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 Inc. has a 1 year low of $22.28 and a 1 year high of $30.67. The firm has a market capitalization of $7.79 billion, a P/E ratio of 23.14, a PEG ratio of 2.70 and a beta of 1.29. The business's 50-day moving average price is $25.69 and its 200-day moving average price is $25.90.

Brixmor Property Group (NYSE:BRX - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $339.40 million for the quarter, compared to analysts' expectations of $332.59 million. Brixmor Property Group had a return on equity of 11.39% and a net margin of 25.27%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 earnings per share. As a group, sell-side analysts forecast 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. Investors of record on Thursday, October 2nd will be paid a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Thursday, October 2nd. Brixmor Property Group's dividend payout ratio is presently 104.55%.

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.