Brixmor Property Group Inc. (BRX) Holdings Lifted by Cadence Capital Management LLC
Cadence Capital Management LLC lifted its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 68.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,714 shares of the real estate investment trust’s stock after purchasing an additional 8,845 shares during the period. Cadence Capital Management LLC’s holdings in Brixmor Property Group were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of BRX. Schwab Charles Investment Management Inc. grew its holdings in shares of Brixmor Property Group by 3.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,183,228 shares of the real estate investment trust’s stock worth $39,037,000 after buying an additional 79,331 shares in the last quarter. Rhumbline Advisers lifted its holdings in Brixmor Property Group by 31.6% in the 2nd quarter. Rhumbline Advisers now owns 331,323 shares of the real estate investment trust’s stock valued at $5,924,000 after acquiring an additional 79,600 shares during the last quarter. BlackRock Inc. raised its holdings in Brixmor Property Group by 35.0% during the 2nd quarter. BlackRock Inc. now owns 29,066,747 shares of the real estate investment trust’s stock worth $519,713,000 after buying an additional 7,543,528 shares during the period. Swiss National Bank raised its holdings in Brixmor Property Group by 1.0% during the 3rd quarter. Swiss National Bank now owns 1,120,650 shares of the real estate investment trust’s stock worth $21,068,000 after buying an additional 11,600 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Brixmor Property Group by 20.2% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,208 shares of the real estate investment trust’s stock worth $2,260,000 after buying an additional 20,228 shares during the period. Institutional investors own 98.57% of the company’s stock.
Shares of Brixmor Property Group Inc. (BRX) opened at $17.56 on Thursday. The company has a market capitalization of $5,525.46, a P/E ratio of 8.59, a PEG ratio of 1.95 and a beta of 0.52. Brixmor Property Group Inc. has a 12-month low of $17.23 and a 12-month high of $25.34. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.70 and a quick ratio of 0.70.
Brixmor Property Group announced that its board has authorized a share buyback program on Tuesday, December 5th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, January 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, January 3rd. This represents a $1.10 annualized dividend and a yield of 6.26%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.26. Brixmor Property Group’s dividend payout ratio is currently 98.11%.
In related news, EVP Mark Horgan acquired 3,000 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was acquired at an average price of $17.64 per share, with a total value of $52,920.00. Following the acquisition, the executive vice president now directly owns 56,703 shares of the company’s stock, valued at $1,000,240.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Barclays reiterated a “hold” rating and issued a $22.00 target price on shares of Brixmor Property Group in a report on Monday, August 14th. Mizuho reissued a “buy” rating and issued a $19.50 price objective on shares of Brixmor Property Group in a research report on Friday, November 10th. Zacks Investment Research lowered Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Boenning Scattergood set a $22.00 price objective on Brixmor Property Group and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, BMO Capital Markets assumed coverage on Brixmor Property Group in a research note on Monday, September 11th. They issued a “market perform” rating and a $20.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.00.
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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