Van ECK Associates Corp Buys New Holdings in Brixmor Property Group Inc (BRX)

Van ECK Associates Corp bought a new stake in shares of Brixmor Property Group Inc (NYSE:BRX) during the second quarter, Holdings Channel reports. The fund bought 60,945 shares of the real estate investment trust’s stock, valued at approximately $1,062,000.

A number of other hedge funds have also modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its holdings in Brixmor Property Group by 27.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 19,668 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 4,252 shares during the period. Investec Asset Management PTY Ltd increased its holdings in shares of Brixmor Property Group by 15.6% in the second quarter. Investec Asset Management PTY Ltd now owns 45,344 shares of the real estate investment trust’s stock worth $790,000 after purchasing an additional 6,113 shares during the period. Rhumbline Advisers increased its holdings in shares of Brixmor Property Group by 2.0% in the first quarter. Rhumbline Advisers now owns 335,005 shares of the real estate investment trust’s stock worth $5,109,000 after purchasing an additional 6,416 shares during the period. Comerica Bank increased its holdings in shares of Brixmor Property Group by 8.4% in the second quarter. Comerica Bank now owns 84,626 shares of the real estate investment trust’s stock worth $1,467,000 after purchasing an additional 6,569 shares during the period. Finally, Nwam LLC increased its holdings in shares of Brixmor Property Group by 36.6% in the second quarter. Nwam LLC now owns 28,788 shares of the real estate investment trust’s stock worth $502,000 after purchasing an additional 7,720 shares during the period.

Several research firms have recently weighed in on BRX. ValuEngine cut shares of Brixmor Property Group from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Stifel Nicolaus upped their price target on shares of Brixmor Property Group from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, July 31st. Citigroup upped their price target on shares of Brixmor Property Group from $16.50 to $18.00 and gave the stock a “neutral” rating in a report on Thursday, August 16th. Sandler O’Neill cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 price target on shares of Brixmor Property Group in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. Brixmor Property Group presently has an average rating of “Hold” and a consensus price target of $18.64.

Shares of NYSE:BRX opened at $17.68 on Friday. Brixmor Property Group Inc has a 52-week low of $13.74 and a 52-week high of $19.81. The firm has a market capitalization of $5.44 billion, a P/E ratio of 8.73, a P/E/G ratio of 1.50 and a beta of 0.42. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.92.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 30th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.24). Brixmor Property Group had a return on equity of 10.21% and a net margin of 23.30%. The company had revenue of $313.03 million during the quarter, compared to analysts’ expectations of $307.73 million. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. sell-side analysts predict that Brixmor Property Group Inc will post 2 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, October 5th will be given a $0.275 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.10 annualized dividend and a yield of 6.22%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 52.63%.

Brixmor Property Group Company Profile

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 471 retail centers comprise approximately 80 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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