Raymond James & Associates Raises Position in Brixmor Property Group Inc. (NYSE:BRX)

Raymond James & Associates grew its stake in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 633.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 97,728 shares of the real estate investment trust's stock after acquiring an additional 84,395 shares during the quarter. Raymond James & Associates' holdings in Brixmor Property Group were worth $2,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BRX. UMB Bank n.a. grew its position in Brixmor Property Group by 328.6% in the third quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 723 shares during the last quarter. Blue Trust Inc. increased its position in shares of Brixmor Property Group by 258.9% during the second 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 period. Larson Financial Group LLC bought a new position in shares of Brixmor Property Group in the 1st quarter worth about $47,000. Abich Financial Wealth Management LLC lifted its stake in Brixmor Property Group by 50.7% in the first 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 during the period. Finally, Fifth Third Bancorp lifted its position in shares of Brixmor Property Group by 19.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust's stock valued at $62,000 after acquiring an additional 431 shares during the period. Institutional investors own 98.43% of the company's stock.

Brixmor Property Group Price Performance

BRX stock traded up $0.39 during mid-day trading on Tuesday, hitting $28.33. 2,634,563 shares of the stock were exchanged, compared to its average volume of 2,291,204. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 4.42 and a beta of 1.57. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. Brixmor Property Group Inc. has a 12 month low of $20.69 and a 12 month high of $28.45. The business has a fifty day moving average price of $27.56 and a 200 day moving average price of $24.81.

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 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 business had revenue of $320.68 million during the quarter, compared to the consensus estimate of $320.22 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The business's revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Brixmor Property Group Inc. will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.287 per share. This is a positive change from Brixmor Property Group's previous quarterly dividend of $0.27. 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 4.05%. Brixmor Property Group's dividend payout ratio is presently 106.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Evercore ISI raised their price objective on Brixmor Property Group from $27.00 to $28.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. Scotiabank lifted their target price on Brixmor Property Group from $25.00 to $29.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 26th. Compass Point upped their price objective on Brixmor Property Group from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Truist Financial lifted their target price on shares of Brixmor Property Group from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday, August 16th. Finally, The Goldman Sachs Group boosted their price objective on Brixmor Property Group from $26.00 to $29.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $28.54.

Insider Activity at Brixmor Property Group

In related news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the sale, the director now directly owns 46,291 shares in the company, valued at $1,178,105.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.

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.