Vestcor Inc Buys New Position in Brixmor Property Group Inc. (NYSE:BRX)

Vestcor Inc purchased a new position in Brixmor Property Group Inc. (NYSE:BRX) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 27,856 shares of the real estate investment trust’s stock, valued at approximately $776,000.

A number of other large investors also recently modified their holdings of the business. Glenmede Trust Co. NA raised its stake in Brixmor Property Group by 222.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 37,706 shares of the real estate investment trust’s stock valued at $1,050,000 after purchasing an additional 26,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Brixmor Property Group by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock worth $138,185,000 after buying an additional 159,388 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in Brixmor Property Group during the second quarter worth about $494,000. Natixis Advisors LLC increased its stake in Brixmor Property Group by 33.3% during the third quarter. Natixis Advisors LLC now owns 147,477 shares of the real estate investment trust’s stock valued at $4,108,000 after acquiring an additional 36,823 shares during the period. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Brixmor Property Group in the 2nd quarter valued at approximately $228,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Steven F. Siegel sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the sale, the insider now directly owns 315,004 shares of the company’s stock, valued at $9,305,218.16. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company’s stock.

Brixmor Property Group Stock Performance

NYSE:BRX opened at $28.86 on Friday. The stock has a market capitalization of $8.72 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 4.05 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. Brixmor Property Group Inc. has a 1 year low of $20.80 and a 1 year high of $30.67. The firm has a 50 day moving average of $28.56 and a 200-day moving average of $26.19.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.21). The business had revenue of $320.68 million during the quarter, compared to the consensus estimate of $320.22 million. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. As a group, sell-side analysts anticipate that Brixmor Property Group Inc. will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is presently 106.48%.

Analyst Ratings Changes

A number of analysts have recently issued reports on BRX shares. Wells Fargo & Company boosted their price objective on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Compass Point boosted their price target on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. KeyCorp increased their price objective on shares of Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Truist Financial lifted their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Scotiabank increased their price target on shares of Brixmor Property Group from $29.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.96.

Brixmor Property Group Company 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.