Principal Financial Group Inc. Purchases 166,381 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Principal Financial Group Inc. lifted its position in Brixmor Property Group Inc. (NYSE:BRXGet Rating) by 16.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,179,130 shares of the real estate investment trust’s stock after acquiring an additional 166,381 shares during the period. Principal Financial Group Inc. owned 0.39% of Brixmor Property Group worth $23,830,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Brixmor Property Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,190,584 shares of the real estate investment trust’s stock valued at $1,166,369,000 after buying an additional 369,401 shares in the last quarter. Wellington Management Group LLP increased its position in Brixmor Property Group by 99.4% during the 1st quarter. Wellington Management Group LLP now owns 20,119,950 shares of the real estate investment trust’s stock valued at $519,296,000 after buying an additional 10,028,534 shares in the last quarter. State Street Corp increased its position in Brixmor Property Group by 13.6% during the 1st quarter. State Street Corp now owns 16,686,118 shares of the real estate investment trust’s stock valued at $430,669,000 after buying an additional 2,001,159 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Brixmor Property Group by 2.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,613,457 shares of the real estate investment trust’s stock valued at $273,934,000 after buying an additional 245,316 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Brixmor Property Group by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,077,895 shares of the real estate investment trust’s stock valued at $105,251,000 after buying an additional 167,734 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on BRX shares. Mizuho cut their target price on Brixmor Property Group from $26.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, November 11th. Deutsche Bank Aktiengesellschaft cut their target price on Brixmor Property Group from $23.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, October 7th. Credit Suisse Group increased their target price on Brixmor Property Group to $24.00 in a research note on Friday, November 4th. StockNews.com started coverage on Brixmor Property Group in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Piper Sandler cut their target price on Brixmor Property Group from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.96.

Brixmor Property Group Stock Performance

BRX stock opened at $22.72 on Monday. The company has a market cap of $6.81 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.57 and a beta of 1.58. Brixmor Property Group Inc. has a 1 year low of $17.62 and a 1 year high of $27.19. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s fifty day moving average price is $20.32 and its 200-day moving average price is $21.54.

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Wednesday, January 4th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 4.58%. Brixmor Property Group’s payout ratio is 88.89%.

Brixmor Property Group Company Profile

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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 395 retail centers comprise approximately 69 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.

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Institutional Ownership by Quarter for Brixmor Property Group (NYSE:BRX)

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