Brixmor Property Group Inc. (BRX) Shares Bought by Ingalls & Snyder LLC
Ingalls & Snyder LLC increased its stake in Brixmor Property Group Inc. (NYSE:BRX) by 31.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,700 shares of the real estate investment trust’s stock after acquiring an additional 39,857 shares during the period. Ingalls & Snyder LLC’s holdings in Brixmor Property Group were worth $3,073,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Brixmor Property Group in the third quarter worth approximately $100,000. Meeder Asset Management Inc. boosted its position in shares of Brixmor Property Group by 621.1% in the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 6,845 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Brixmor Property Group by 159.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 5,203 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Brixmor Property Group in the third quarter worth approximately $191,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Brixmor Property Group in the third quarter worth approximately $197,000. 98.52% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Brixmor Property Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Mizuho reissued a “buy” rating and issued a $19.50 target price on shares of Brixmor Property Group in a research report on Friday, November 10th. Boenning Scattergood reissued a “buy” rating and issued a $22.00 target price on shares of Brixmor Property Group in a research report on Thursday, December 7th. Zacks Investment Research raised shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, Mitsubishi UFJ Financial Group raised shares of Brixmor Property Group from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $20.57.
Brixmor Property Group Inc. (NYSE BRX) opened at $17.12 on Friday. The firm has a market cap of $5,141.24, a P/E ratio of 7.99, a price-to-earnings-growth ratio of 2.10 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.70. Brixmor Property Group Inc. has a 12-month low of $16.53 and a 12-month high of $24.94.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.24). The business had revenue of $314.50 million for the quarter, compared to analyst estimates of $317.31 million. Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. equities research analysts predict that Brixmor Property Group Inc. will post 2.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 6.43%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, January 3rd. Brixmor Property Group’s payout ratio is 103.77%.
Brixmor Property Group announced that its board has initiated a share repurchase plan on Tuesday, December 5th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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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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