Franklin Resources Inc. Sells 2,794,921 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Franklin Resources Inc. decreased its holdings in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 20.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,666,351 shares of the real estate investment trust's stock after selling 2,794,921 shares during the quarter. Franklin Resources Inc. owned approximately 3.53% of Brixmor Property Group worth $289,805,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRX. Glenmede Trust Co. NA increased its holdings in Brixmor Property Group by 222.1% in the third quarter. Glenmede Trust Co. NA now owns 37,706 shares of the real estate investment trust's stock valued at $1,050,000 after buying an additional 26,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Brixmor Property Group by 3.3% in the 3rd 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 acquiring an additional 159,388 shares in the last quarter. Vestcor Inc bought a new stake in shares of Brixmor Property Group in the 3rd quarter valued at approximately $776,000. Wolverine Asset Management LLC acquired a new stake in shares of Brixmor Property Group during the 2nd quarter valued at approximately $494,000. Finally, Natixis Advisors LLC lifted 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 worth $4,108,000 after purchasing an additional 36,823 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Brixmor Property Group Price Performance

BRX stock traded up $0.02 during trading on Friday, hitting $28.88. The company had a trading volume of 1,831,715 shares, compared to its average volume of 2,248,037. The business has a 50 day moving average of $28.59 and a 200 day moving average of $26.31. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 3.96 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 fifty-two week low of $20.80 and a fifty-two week high of $30.67.

Brixmor Property Group (NYSE:BRX - Get Free Report) last posted 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). Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The company had revenue of $320.68 million during the quarter, compared to the consensus estimate of $320.22 million. During the same quarter last year, the business earned $0.50 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be issued a $0.287 dividend. This is a positive change from Brixmor Property Group's previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 3rd. This represents a $1.15 annualized dividend and a dividend yield of 3.98%. Brixmor Property Group's dividend payout ratio is 100.93%.

Analysts Set New Price Targets

BRX has been the topic of a number of research reports. BMO Capital Markets raised shares of Brixmor Property Group from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $30.00 to $33.00 in a report on Friday, December 6th. Wells Fargo & Company increased their price objective on shares of Brixmor Property Group from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 28th. Scotiabank lifted their target price on Brixmor Property Group from $29.00 to $32.00 and gave the company a "sector outperform" rating in a research note on Monday, November 25th. KeyCorp increased their price target on Brixmor Property Group from $28.00 to $32.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th. Finally, Mizuho boosted their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the company a "neutral" rating in a research report on Tuesday, December 10th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group has an average rating of "Moderate Buy" and a consensus price target of $29.96.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total value of $738,500.00. Following the transaction, the insider now owns 315,004 shares of the company's stock, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.76% of the company's stock.

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.