Glenmede Trust Co. NA Boosts Stake in Brixmor Property Group Inc. (NYSE:BRX)

Glenmede Trust Co. NA raised its stake in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 222.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,706 shares of the real estate investment trust's stock after acquiring an additional 26,000 shares during the quarter. Glenmede Trust Co. NA's holdings in Brixmor Property Group were worth $1,050,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PGGM Investments increased its stake in shares of Brixmor Property Group by 167.2% during the second quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust's stock worth $86,847,000 after purchasing an additional 2,353,582 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Brixmor Property Group in the second quarter worth approximately $49,546,000. Canada Pension Plan Investment Board increased its position in shares of Brixmor Property Group by 37.4% during the second quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust's stock worth $169,131,000 after purchasing an additional 1,995,299 shares in the last quarter. Millennium Management LLC raised its stake in Brixmor Property Group by 35.5% in the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust's stock valued at $132,443,000 after purchasing an additional 1,501,282 shares during the last quarter. Finally, FMR LLC lifted its holdings in Brixmor Property Group by 136.8% in the 3rd quarter. FMR LLC now owns 1,068,666 shares of the real estate investment trust's stock valued at $29,773,000 after purchasing an additional 617,341 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BRX. Scotiabank upped their target price on shares of Brixmor Property Group from $29.00 to $32.00 and gave the stock a "sector outperform" rating in a report on Monday, November 25th. Evercore ISI upped their price target on Brixmor Property Group from $27.00 to $28.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. KeyCorp lifted their price target on Brixmor Property Group from $28.00 to $32.00 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Truist Financial increased their price target on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Wells Fargo & Company upped their price objective on Brixmor Property Group from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.38.

Insider Buying and Selling at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the transaction, the insider now directly owns 315,004 shares of the company's stock, valued at approximately $9,305,218.16. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.76% of the stock is owned by corporate insiders.

Brixmor Property Group Stock Performance

Brixmor Property Group stock traded down $0.09 during trading hours on Tuesday, reaching $29.68. 1,424,857 shares of the stock were exchanged, compared to its average volume of 2,258,166. Brixmor Property Group Inc. has a 52-week low of $20.80 and a 52-week high of $30.67. The stock has a market cap of $8.97 billion, a P/E ratio of 27.56, a P/E/G ratio of 4.10 and a beta of 1.58. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The firm's 50 day moving average is $28.27 and its 200 day moving average is $25.84.

Brixmor Property Group (NYSE:BRX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 11.48% and a net margin of 25.81%. The firm had revenue of $320.68 million for the quarter, compared to analysts' expectations of $320.22 million. During the same period in the prior year, the company earned $0.50 earnings per share. The company's revenue for the quarter was up 4.3% on a year-over-year basis. Analysts predict that Brixmor Property Group Inc. will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be issued a $0.287 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 3.87%. This is an increase from Brixmor Property Group's previous quarterly dividend of $0.27. Brixmor Property Group's dividend payout ratio (DPR) is 100.93%.

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.