Oliver Luxxe Assets LLC Grows Position in Brixmor Property Group Inc. (NYSE:BRX)

by · The Markets Daily

Oliver Luxxe Assets LLC raised its holdings in shares of Brixmor Property Group Inc. (NYSE:BRX – Free Report) by 73.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,908 shares of the real estate investment trust’s stock after acquiring an additional 39,910 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Brixmor Property Group were worth $2,616,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Brixmor Property Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock worth $1,070,794,000 after purchasing an additional 165,572 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Brixmor Property Group by 3.7% in the fourth quarter. Wellington Management Group LLP now owns 10,915,844 shares of the real estate investment trust’s stock valued at $254,012,000 after purchasing an additional 394,158 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Brixmor Property Group by 37.4% in the second quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust’s stock valued at $169,131,000 after purchasing an additional 1,995,299 shares during the period. Millennium Management LLC boosted its holdings in shares of Brixmor Property Group by 35.5% in the second quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock valued at $132,443,000 after purchasing an additional 1,501,282 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Brixmor Property Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,804,746 shares of the real estate investment trust’s stock valued at $110,940,000 after purchasing an additional 396,242 shares during the period. 98.43% of the stock is owned by institutional investors.

Brixmor Property Group Stock Up 0.4 %

BRX opened at $26.91 on Monday. Brixmor Property Group Inc. has a twelve month low of $19.55 and a twelve month high of $28.45. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. The company has a 50-day moving average price of $26.96 and a 200 day moving average price of $24.17. The company has a market cap of $8.11 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX – Get Free Report) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The business had revenue of $315.69 million during the quarter, compared to analyst estimates of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. Sell-side analysts expect that Brixmor Property Group Inc. will post 2.13 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be given a dividend of $0.2725 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.05%. Brixmor Property Group’s payout ratio is currently 117.20%.

Insider Buying and Selling

In other news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the insider now directly owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the insider now directly owns 360,004 shares in the company, valued at $8,640,096. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the transaction, the director now owns 46,291 shares in the company, valued at approximately $1,178,105.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BRX shares. Evercore ISI boosted their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. The Goldman Sachs Group upped their target price on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their target price on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Truist Financial upped their price target on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.38.

Get Our Latest Stock Analysis on BRX

Brixmor Property Group Profile

(Free Report)

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.

Further Reading

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