Alliancebernstein L.P. Acquires 244,235 Shares of Brixmor Property Group Inc. (BRX)
Alliancebernstein L.P. raised its holdings in Brixmor Property Group Inc. (NYSE:BRX) by 17.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,641,081 shares of the real estate investment trust’s stock after acquiring an additional 244,235 shares during the quarter. Alliancebernstein L.P. owned about 0.54% of Brixmor Property Group worth $29,343,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BRX. BlackRock Inc. boosted its stake in Brixmor Property Group by 2,015.3% in the first quarter. BlackRock Inc. now owns 21,523,219 shares of the real estate investment trust’s stock valued at $461,888,000 after acquiring an additional 20,505,706 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Brixmor Property Group by 50.6% in the first quarter. Nuveen Asset Management LLC now owns 4,610,796 shares of the real estate investment trust’s stock valued at $98,948,000 after acquiring an additional 1,549,548 shares during the last quarter. First Manhattan Co. boosted its stake in Brixmor Property Group by 399.3% in the second quarter. First Manhattan Co. now owns 1,537,970 shares of the real estate investment trust’s stock valued at $27,498,000 after acquiring an additional 1,229,970 shares during the last quarter. Morgan Stanley boosted its stake in Brixmor Property Group by 42.9% in the first quarter. Morgan Stanley now owns 3,625,868 shares of the real estate investment trust’s stock valued at $77,811,000 after acquiring an additional 1,089,278 shares during the last quarter. Finally, First Quadrant L P CA boosted its stake in Brixmor Property Group by 142.0% in the second quarter. First Quadrant L P CA now owns 1,367,926 shares of the real estate investment trust’s stock valued at $24,459,000 after acquiring an additional 802,739 shares during the last quarter.
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A number of equities analysts have issued reports on the stock. Citigroup Inc. raised their price objective on shares of Brixmor Property Group from $19.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Zacks Investment Research cut shares of Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Brixmor Property Group in a research note on Wednesday, August 2nd. Mizuho raised shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Monday, August 14th. Finally, Barclays PLC reduced their price objective on shares of Brixmor Property Group from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $23.85.
Brixmor Property Group Inc. (NYSE BRX) opened at 19.14 on Wednesday. The stock’s 50 day moving average is $19.24 and its 200-day moving average is $19.54. Brixmor Property Group Inc. has a 12 month low of $17.35 and a 12 month high of $29.14. The company has a market capitalization of $5.84 billion, a PE ratio of 19.61 and a beta of 0.54.
Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The business had revenue of $322.80 million for the quarter, compared to analyst estimates of $315.69 million. Brixmor Property Group had a net margin of 23.06% and a return on equity of 10.22%. Brixmor Property Group’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. On average, analysts expect that Brixmor Property Group Inc. will post $0.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, October 5th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.43%. The ex-dividend date is Wednesday, October 4th. Brixmor Property Group’s dividend payout ratio is presently 106.12%.
In related news, Director John Schreiber bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average cost of $18.72 per share, with a total value of $187,200.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $374,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James M. Taylor, Jr. bought 15,600 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $19.24 per share, for a total transaction of $300,144.00. Following the completion of the purchase, the insider now owns 224,793 shares of the company’s stock, valued at $4,325,017.32. The disclosure for this purchase can be found here. 0.27% of the stock is owned by corporate insiders.
Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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