Insider Buying: Brixmor Property Group Inc. (BRX) Director Purchases 1,411 Shares of Stock
Brixmor Property Group Inc. (NYSE:BRX) Director Gabrielle Greene-Sulzberger bought 1,411 shares of Brixmor Property Group stock in a transaction dated Wednesday, December 6th. The stock was acquired at an average price of $17.71 per share, with a total value of $24,988.81. Following the completion of the transaction, the director now directly owns 16,411 shares of the company’s stock, valued at $290,638.81. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Brixmor Property Group Inc. (NYSE BRX) traded up $0.26 on Thursday, hitting $17.82. 3,811,184 shares of the company were exchanged, compared to its average volume of 2,853,492. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.70 and a quick ratio of 0.70. Brixmor Property Group Inc. has a 12-month low of $17.23 and a 12-month high of $25.34. The stock has a market capitalization of $5,525.46, a price-to-earnings ratio of 8.59, a P/E/G ratio of 1.95 and a beta of 0.52.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.24). Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The firm had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $317.31 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. equities analysts anticipate that Brixmor Property Group Inc. will post 2.08 EPS for the current year.
Brixmor Property Group declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 5th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. boosted its stake in Brixmor Property Group by 3.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,183,228 shares of the real estate investment trust’s stock worth $39,037,000 after buying an additional 79,331 shares during the period. Rhumbline Advisers boosted its stake in Brixmor Property Group by 31.6% during the second quarter. Rhumbline Advisers now owns 331,323 shares of the real estate investment trust’s stock worth $5,924,000 after buying an additional 79,600 shares during the period. BlackRock Inc. boosted its stake in Brixmor Property Group by 35.0% during the second quarter. BlackRock Inc. now owns 29,066,747 shares of the real estate investment trust’s stock worth $519,713,000 after buying an additional 7,543,528 shares during the period. Swiss National Bank boosted its stake in shares of Brixmor Property Group by 1.0% in the third quarter. Swiss National Bank now owns 1,120,650 shares of the real estate investment trust’s stock valued at $21,068,000 after purchasing an additional 11,600 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Brixmor Property Group by 20.2% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,208 shares of the real estate investment trust’s stock valued at $2,260,000 after purchasing an additional 20,228 shares during the period. 98.57% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on BRX shares. ValuEngine upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Boenning Scattergood set a $22.00 price objective on shares of Brixmor Property Group and gave the company a “buy” rating in a report on Wednesday, November 1st. Mizuho raised shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, August 14th. KeyCorp reissued a “hold” rating on shares of Brixmor Property Group in a report on Friday, August 25th. Finally, Barclays reissued a “hold” rating and issued a $22.00 price objective on shares of Brixmor Property Group in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.00.
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Brixmor Property Group Company Profile
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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