Franklin Resources Inc. Reduces Holdings in Brixmor Property Group Inc. (NYSE:BRX)

Franklin Resources Inc. decreased its position in shares of Brixmor Property Group Inc. (NYSE:BRX) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,110,402 shares of the real estate investment trust’s stock after selling 118,525 shares during the period. Franklin Resources Inc.’s holdings in Brixmor Property Group were worth $305,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Brixmor Property Group by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 45,760,884 shares of the real estate investment trust’s stock worth $950,911,000 after acquiring an additional 440,566 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Brixmor Property Group by 16.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,985,745 shares of the real estate investment trust’s stock worth $348,718,000 after acquiring an additional 2,067,135 shares in the last quarter. Wellington Management Group LLP grew its holdings in Brixmor Property Group by 9.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,521,686 shares of the real estate investment trust’s stock worth $218,641,000 after acquiring an additional 929,966 shares in the last quarter. Invesco Ltd. grew its holdings in Brixmor Property Group by 22.8% during the 3rd quarter. Invesco Ltd. now owns 6,929,942 shares of the real estate investment trust’s stock worth $144,004,000 after acquiring an additional 1,288,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Brixmor Property Group by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,713,236 shares of the real estate investment trust’s stock worth $109,677,000 after acquiring an additional 123,284 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Brixmor Property Group in a report on Tuesday, January 30th. They set a “buy” rating and a $27.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Mizuho reaffirmed a “neutral” rating and issued a $24.00 price target (up from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Truist Financial reaffirmed a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a report on Monday, March 25th. Finally, The Goldman Sachs Group decreased their price target on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.13.

Brixmor Property Group Stock Performance

NYSE:BRX traded up $0.02 during mid-day trading on Wednesday, hitting $22.26. The stock had a trading volume of 251,995 shares, compared to its average volume of 2,518,112. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 2.63 and a beta of 1.53. The company has a 50 day simple moving average of $22.17 and a 200-day simple moving average of $22.41. Brixmor Property Group Inc. has a 52 week low of $19.40 and a 52 week high of $24.47. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.86.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). Brixmor Property Group had a return on equity of 9.84% and a net margin of 22.47%. The company had revenue of $320.24 million for the quarter, compared to the consensus estimate of $314.82 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, research analysts expect that Brixmor Property Group Inc. will post 2.1 earnings per share for the current fiscal year.

Brixmor Property Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.90%. Brixmor Property Group’s dividend payout ratio (DPR) is 117.21%.

Insiders Place Their Bets

In related news, Director Michael B. Berman sold 10,475 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the sale, the director now directly owns 40,556 shares in the company, valued at approximately $925,487.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brixmor Property Group news, insider Brian T. Finnegan sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the transaction, the insider now owns 225,051 shares in the company, valued at approximately $5,176,173. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael B. Berman sold 10,475 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total transaction of $239,039.50. Following the completion of the transaction, the director now owns 40,556 shares in the company, valued at approximately $925,487.92. The disclosure for this sale can be found here. 0.76% of the stock is owned by 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.