Wells Fargo & Company MN Sells 8,915 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Wells Fargo & Company MN lowered its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 124,764 shares of the real estate investment trust’s stock after selling 8,915 shares during the quarter. Wells Fargo & Company MN’s holdings in Brixmor Property Group were worth $3,473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new position in Brixmor Property Group during the fourth quarter valued at $3,320,000. ExodusPoint Capital Management LP purchased a new position in shares of Brixmor Property Group during the 4th quarter worth about $20,271,000. Headlands Technologies LLC bought a new position in Brixmor Property Group during the 4th quarter valued at about $26,000. Geode Capital Management LLC raised its position in Brixmor Property Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 5,653,925 shares of the real estate investment trust’s stock worth $157,450,000 after purchasing an additional 38,911 shares during the period. Finally, Diametric Capital LP bought a new stake in Brixmor Property Group in the fourth quarter worth about $288,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho cut their target price on Brixmor Property Group from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Evercore ISI raised Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company lowered their target price on shares of Brixmor Property Group from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Stifel Nicolaus cut their price target on shares of Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $28.00 to $33.00 in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.48.

Brixmor Property Group Stock Performance

Shares of BRX stock opened at $25.71 on Wednesday. The firm has a market cap of $7.87 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 2.66 and a beta of 1.30. Brixmor Property Group Inc. has a 52-week low of $21.32 and a 52-week high of $30.67. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.79. The company’s 50 day moving average is $26.03 and its 200 day moving average is $27.18.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a return on equity of 11.72% and a net margin of 26.40%. On average, sell-side analysts anticipate that Brixmor Property Group Inc. will post 2.22 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd were issued a $0.2875 dividend. The ex-dividend date was Wednesday, April 2nd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.29. This represents a $1.15 dividend on an annualized basis and a yield of 4.47%. Brixmor Property Group’s payout ratio is currently 103.60%.

About Brixmor Property Group

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.