Teachers Insurance & Annuity Association of America increased its position in Brixmor Property Group Inc (NYSE:BRX) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,302 shares of the real estate investment trust’s stock after acquiring an additional 30,845 shares during the quarter. Teachers Insurance & Annuity Association of America owned about 0.11% of Brixmor Property Group worth $6,275,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in BRX. The Manufacturers Life Insurance Company increased its holdings in Brixmor Property Group by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,283 shares of the real estate investment trust’s stock worth $362,000 after acquiring an additional 712 shares in the last quarter. Pictet Asset Management Ltd. increased its holdings in Brixmor Property Group by 2.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 115,400 shares of the real estate investment trust’s stock worth $2,170,000 after acquiring an additional 2,800 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Brixmor Property Group by 40.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 128,000 shares of the real estate investment trust’s stock worth $2,406,000 after acquiring an additional 36,800 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Brixmor Property Group by 7.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 85,308 shares of the real estate investment trust’s stock worth $1,604,000 after purchasing an additional 6,141 shares during the period. Finally, American Century Companies Inc. boosted its stake in Brixmor Property Group by 42.6% in the 3rd quarter. American Century Companies Inc. now owns 85,199 shares of the real estate investment trust’s stock worth $1,602,000 after purchasing an additional 25,433 shares during the period. 99.72% of the stock is owned by institutional investors.
Brixmor Property Group Inc (BRX) opened at $15.57 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.95. The company has a market capitalization of $4,744.24, a P/E ratio of 7.41, a PEG ratio of 1.94 and a beta of 0.38. Brixmor Property Group Inc has a 52-week low of $13.74 and a 52-week high of $22.19.
Brixmor Property Group announced that its board has authorized a share repurchase program on Tuesday, December 5th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, April 5th will be given a $0.275 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $1.10 dividend on an annualized basis and a yield of 7.06%. Brixmor Property Group’s dividend payout ratio is presently 112.24%.
In related news, EVP Mark Horgan purchased 4,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average cost of $14.94 per share, for a total transaction of $67,230.00. Following the completion of the transaction, the executive vice president now directly owns 62,769 shares in the company, valued at $937,768.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is owned by company insiders.
BRX has been the subject of several recent analyst reports. Boenning Scattergood restated a “buy” rating and issued a $22.00 price target on shares of Brixmor Property Group in a research note on Tuesday, November 21st. Stifel Nicolaus initiated coverage on Brixmor Property Group in a research note on Thursday, November 30th. They issued a “hold” rating and a $19.00 price target for the company. ValuEngine downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays dropped their price target on Brixmor Property Group from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. Finally, Sandler O’Neill set a $18.00 price target on Brixmor Property Group and gave the stock a “buy” rating in a research note on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $18.40.
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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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