Lord Abbett & CO. LLC Acquires New Stake in Brixmor Property Group Inc. (NYSE:BRX)

Lord Abbett & CO. LLC acquired a new position in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 915,000 shares of the real estate investment trust's stock, valued at approximately $25,492,000. Lord Abbett & CO. LLC owned approximately 0.30% of Brixmor Property Group at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BRX. Wealth Enhancement Advisory Services LLC lifted its position in Brixmor Property Group by 5.3% in 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 acquiring an additional 481 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Brixmor Property Group in the 2nd quarter valued at about $228,000. Blue Trust Inc. grew its stake in Brixmor Property Group by 258.9% during the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,007 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Brixmor Property Group by 2.9% during the second quarter. Nisa Investment Advisors LLC now owns 105,866 shares of the real estate investment trust's stock worth $2,444,000 after buying an additional 3,000 shares during the period. Finally, Fifth Third Bancorp lifted its stake in Brixmor Property Group by 19.1% in the second quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 431 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Brixmor Property Group Price Performance

Brixmor Property Group stock traded up $0.01 during midday trading on Monday, reaching $28.89. The company's stock had a trading volume of 2,278,388 shares, compared to its average volume of 2,248,163. The firm has a market capitalization of $8.73 billion, a PE ratio of 26.75, a P/E/G ratio of 3.96 and a beta of 1.58. Brixmor Property Group Inc. has a fifty-two week low of $20.80 and a fifty-two week high of $30.67. The stock's 50 day simple moving average is $28.63 and its 200 day simple moving average is $26.36. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38.

Brixmor Property Group (NYSE:BRX - Get Free Report) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 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 analyst estimates of $320.22 million. During the same quarter last year, the business earned $0.50 EPS. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts forecast 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. Investors of record on Friday, January 3rd will be paid a $0.287 dividend. This is an increase from Brixmor Property Group's previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, January 3rd. Brixmor Property Group's dividend payout ratio (DPR) is presently 106.48%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

BRX has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on shares of Brixmor Property Group from $24.00 to $28.00 and gave the company an "equal weight" rating in a report on Wednesday, August 28th. KeyCorp lifted 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. Evercore ISI increased their target price on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. Mizuho boosted their price target 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. Finally, Scotiabank increased their price objective on 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 stock. According to data from MarketBeat.com, Brixmor Property Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.96.

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.