Parametric Portfolio Associates LLC boosted its position in Brixmor Property Group Inc. (NYSE:BRX) by 37.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 671,687 shares of the real estate investment trust’s stock after buying an additional 182,575 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.22% of Brixmor Property Group worth $12,628,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new stake in Brixmor Property Group in the third quarter valued at about $100,000. Pacer Advisors Inc. increased its holdings in Brixmor Property Group by 8.4% in the second quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 554 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in Brixmor Property Group by 621.1% in the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 6,845 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Brixmor Property Group by 159.5% during the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 5,203 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Brixmor Property Group by 58.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 3,538 shares during the last quarter. 98.30% of the stock is owned by hedge funds and other institutional investors.
Brixmor Property Group Inc. (NYSE:BRX) opened at $18.66 on Monday. The company has a market capitalization of $5,640.00, a P/E ratio of 17.60, a PEG ratio of 2.01 and a beta of 0.52. Brixmor Property Group Inc. has a fifty-two week low of $17.23 and a fifty-two week high of $25.34. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, January 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a dividend yield of 5.89%. Brixmor Property Group’s payout ratio is currently 98.11%.
Brixmor Property Group declared that its Board of Directors has initiated a stock buyback program on Tuesday, December 5th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
Several equities analysts have recently commented on the company. ValuEngine raised Brixmor Property Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Mizuho reaffirmed a “buy” rating and set a $19.50 target price on shares of Brixmor Property Group in a report on Friday, November 10th. Boenning Scattergood reaffirmed a “buy” rating and set a $22.00 target price on shares of Brixmor Property Group in a report on Thursday, December 7th. Zacks Investment Research raised Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, BMO Capital Markets assumed coverage on Brixmor Property Group in a report on Monday, September 11th. They set a “market perform” rating and a $20.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $21.25.
In other Brixmor Property Group news, EVP Mark Horgan acquired 3,000 shares of Brixmor Property Group stock in a transaction dated Friday, November 3rd. The stock was acquired at an average cost of $17.64 per share, for a total transaction of $52,920.00. Following the completion of the transaction, the executive vice president now owns 56,703 shares in the company, valued at approximately $1,000,240.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.
About Brixmor Property Group
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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