Mitsubishi UFJ Trust & Banking Corp Cuts Stake in Brixmor Property Group Inc. (BRX)
Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Brixmor Property Group Inc. (NYSE:BRX) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 627,175 shares of the real estate investment trust’s stock after selling 5,230 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.21% of Brixmor Property Group worth $11,791,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Wells Fargo & Company MN boosted its position in Brixmor Property Group by 111.8% during the 3rd quarter. Wells Fargo & Company MN now owns 476,402 shares of the real estate investment trust’s stock valued at $8,956,000 after buying an additional 251,435 shares during the period. Presima Inc. purchased a new stake in Brixmor Property Group during the 3rd quarter valued at $24,750,000. Cadence Capital Management LLC boosted its position in Brixmor Property Group by 68.7% during the 3rd quarter. Cadence Capital Management LLC now owns 21,714 shares of the real estate investment trust’s stock valued at $408,000 after buying an additional 8,845 shares during the period. Citadel Advisors LLC boosted its position in Brixmor Property Group by 80.2% during the 3rd quarter. Citadel Advisors LLC now owns 1,121,809 shares of the real estate investment trust’s stock valued at $21,090,000 after buying an additional 499,409 shares during the period. Finally, Schroder Investment Management Group raised its holdings in Brixmor Property Group by 63.5% in the 3rd quarter. Schroder Investment Management Group now owns 173,879 shares of the real estate investment trust’s stock worth $3,288,000 after purchasing an additional 67,560 shares in the last quarter. 98.57% of the stock is owned by institutional investors and hedge funds.
Brixmor Property Group Inc. (NYSE BRX) opened at $17.93 on Monday. 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 Inc. has a 1-year low of $17.23 and a 1-year high of $25.34. The company has a market cap of $5,467.52, a price-to-earnings ratio of 8.50, a price-to-earnings-growth ratio of 1.93 and a beta of 0.52.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, January 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 6.13%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, January 3rd. Brixmor Property Group’s dividend payout ratio (DPR) is presently 98.11%.
Brixmor Property Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 5th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have commented on BRX shares. KeyCorp restated a “hold” rating on shares of Brixmor Property Group in a report on Friday, August 25th. Boenning Scattergood upgraded shares of Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Tuesday, September 12th. BMO Capital Markets started coverage on shares of Brixmor Property Group in a report on Monday, September 11th. They issued a “market perform” rating and a $20.00 price objective for the company. Mizuho restated a “buy” rating and issued a $19.50 price objective on shares of Brixmor Property Group in a report on Friday, November 10th. Finally, ValuEngine lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Brixmor Property Group currently has a consensus rating of “Hold” and an average price target of $22.00.
In other Brixmor Property Group news, EVP Mark Horgan purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average cost of $17.64 per share, for a total transaction of $52,920.00. Following the purchase, the executive vice president now directly owns 56,703 shares in the company, valued at $1,000,240.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by company insiders.
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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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