Allspring Global Investments Holdings LLC boosted its position in Brixmor Property Group Inc. (NYSE:BRX – Free Report) by 3.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,567 shares of the real estate investment trust’s stock after buying an additional 8,153 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Brixmor Property Group worth $5,182,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BRX. Machina Capital S.A.S. bought a new stake in Brixmor Property Group during the 1st quarter worth approximately $28,000. Belpointe Asset Management LLC increased its holdings in Brixmor Property Group by 42.9% during the 1st quarter. Belpointe Asset Management LLC now owns 1,931 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 580 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Brixmor Property Group during the 1st quarter worth approximately $43,000. Covestor Ltd increased its holdings in Brixmor Property Group by 170.2% during the 1st quarter. Covestor Ltd now owns 1,840 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 1,159 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC bought a new stake in Brixmor Property Group during the 1st quarter worth approximately $54,000. 94.98% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on BRX shares. Stifel Nicolaus decreased their price objective on Brixmor Property Group from $24.50 to $22.75 and set a “hold” rating for the company in a report on Tuesday. StockNews.com initiated coverage on Brixmor Property Group in a report on Thursday, October 5th. They issued a “hold” rating for the company. Truist Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Brixmor Property Group in a report on Monday, August 21st. Scotiabank raised Brixmor Property Group from a “sector perform” rating to a “sector outperform” rating and set a $25.00 target price for the company in a report on Tuesday, September 5th. Finally, The Goldman Sachs Group raised Brixmor Property Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $23.00 to $27.00 in a report on Wednesday, August 16th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.58.
Brixmor Property Group Price Performance
Brixmor Property Group stock opened at $21.73 on Friday. Brixmor Property Group Inc. has a 12 month low of $19.40 and a 12 month high of $24.26. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71. The business’s 50 day simple moving average is $21.12 and its 200 day simple moving average is $21.36. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.71 and a beta of 1.60.
Brixmor Property Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Wednesday, January 3rd will be paid a $0.2725 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $1.09 annualized dividend and a yield of 5.02%. Brixmor Property Group’s dividend payout ratio is presently 92.86%.
About Brixmor Property Group
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 365 retail centers comprise approximately 65 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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