Renaissance Technologies LLC grew its holdings in shares of Brixmor Property Group Inc (NYSE:BRX) by 30.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,977,500 shares of the real estate investment trust’s stock after acquiring an additional 696,500 shares during the quarter. Renaissance Technologies LLC owned 0.98% of Brixmor Property Group worth $55,560,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Davis Selected Advisers bought a new stake in shares of Brixmor Property Group during the third quarter worth about $2,874,000. Swiss National Bank grew its holdings in shares of Brixmor Property Group by 1.0% during the third quarter. Swiss National Bank now owns 1,120,650 shares of the real estate investment trust’s stock worth $21,068,000 after purchasing an additional 11,600 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Brixmor Property Group by 20.2% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,208 shares of the real estate investment trust’s stock worth $2,260,000 after purchasing an additional 20,228 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Brixmor Property Group by 1,204.2% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 422,565 shares of the real estate investment trust’s stock worth $7,885,000 after purchasing an additional 390,164 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Brixmor Property Group by 6.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,088,271 shares of the real estate investment trust’s stock valued at $20,459,000 after acquiring an additional 61,943 shares during the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.
Brixmor Property Group Inc (BRX) opened at $15.54 on Wednesday. The stock has a market capitalization of $4,783.85, a P/E ratio of 7.48, a price-to-earnings-growth ratio of 1.95 and a beta of 0.38. Brixmor Property Group Inc has a twelve month low of $13.74 and a twelve month high of $22.19. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.95.
Brixmor Property Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 5th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, April 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date of this dividend is Wednesday, April 4th. Brixmor Property Group’s payout ratio is 112.24%.
In other news, EVP Mark Horgan bought 4,500 shares of the stock in a transaction dated Wednesday, February 14th. The shares were bought at an average cost of $14.94 per share, with a total value of $67,230.00. Following the completion of the transaction, the executive vice president now directly owns 62,769 shares of the company’s stock, valued at $937,768.86. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James M. Taylor, Jr. bought 7,500 shares of the stock in a transaction dated Tuesday, March 13th. The shares were purchased at an average cost of $15.55 per share, for a total transaction of $116,625.00. Following the completion of the transaction, the chief executive officer now directly owns 216,884 shares of the company’s stock, valued at $3,372,546.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,750 shares of company stock worth $195,495 over the last 90 days. Company insiders own 0.27% of the company’s stock.
Several brokerages recently commented on BRX. Boenning Scattergood reiterated a “hold” rating on shares of Brixmor Property Group in a report on Wednesday, February 14th. Royal Bank of Canada reiterated a “hold” rating and issued a $19.00 target price on shares of Brixmor Property Group in a report on Friday, February 23rd. Zacks Investment Research upgraded Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 target price (down from $21.00) on shares of Brixmor Property Group in a report on Tuesday, February 20th. Finally, ValuEngine cut Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Brixmor Property Group presently has a consensus rating of “Hold” and an average target price of $18.40.
Brixmor Property Group 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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