PGGM Investments Grows Stock Position in Brixmor Property Group Inc. (NYSE:BRX)

PGGM Investments raised its position in Brixmor Property Group Inc. (NYSE:BRX) by 167.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,761,248 shares of the real estate investment trust’s stock after buying an additional 2,353,582 shares during the quarter. Brixmor Property Group comprises about 1.2% of PGGM Investments’ holdings, making the stock its 23rd largest position. PGGM Investments’ holdings in Brixmor Property Group were worth $86,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Brixmor Property Group by 5.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 481 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Brixmor Property Group by 50.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 775 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Brixmor Property Group by 0.5% during the 4th quarter. M&T Bank Corp now owns 162,941 shares of the real estate investment trust’s stock valued at $3,792,000 after buying an additional 810 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Brixmor Property Group by 45.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,888 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 903 shares during the period. Finally, Assetmark Inc. grew its stake in Brixmor Property Group by 4.0% in the 4th quarter. Assetmark Inc. now owns 24,599 shares of the real estate investment trust’s stock valued at $572,000 after buying an additional 942 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Insider Buying and Selling

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the transaction, the director now directly owns 46,291 shares in the company, valued at $1,178,105.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total value of $127,250.00. Following the completion of the sale, the director now directly owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the insider now owns 360,004 shares of the company’s stock, valued at $8,640,096. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BRX has been the topic of a number of recent research reports. Mizuho dropped their price objective on Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, May 23rd. The Goldman Sachs Group raised their price objective on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.86.

Brixmor Property Group Price Performance

Shares of Brixmor Property Group stock traded up $0.09 on Wednesday, hitting $25.41. 1,336,938 shares of the company traded hands, compared to its average volume of 2,361,793. Brixmor Property Group Inc. has a 12-month low of $19.46 and a 12-month high of $26.41. The company has a current ratio of 1.50, a quick ratio of 1.45 and a debt-to-equity ratio of 1.88. The company has a market cap of $7.66 billion, a P/E ratio of 27.32, a P/E/G ratio of 4.43 and a beta of 1.57. The firm’s 50-day simple moving average is $23.66 and its 200 day simple moving average is $22.80.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The company had revenue of $315.69 million during the quarter, compared to analysts’ expectations of $317.75 million. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Analysts expect that Brixmor Property Group Inc. will post 2.12 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.2725 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 annualized dividend and a dividend yield of 4.29%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 117.20%.

Brixmor Property Group Profile

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 362 retail centers comprise approximately 64 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision to be the center of the communities we serve and are home to a diverse mix of thriving national, regional and local retailers.