Truist Financial Corp Sells 8,613 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Truist Financial Corp cut its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,403 shares of the real estate investment trust’s stock after selling 8,613 shares during the quarter. Truist Financial Corp’s holdings in Brixmor Property Group were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Jump Financial LLC bought a new stake in shares of Brixmor Property Group during the third quarter worth $1,630,000. Chilton Capital Management LLC acquired a new position in Brixmor Property Group in the 4th quarter worth about $7,510,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Brixmor Property Group by 28.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 185,880 shares of the real estate investment trust’s stock valued at $4,325,000 after purchasing an additional 40,675 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Brixmor Property Group by 3.9% during the fourth quarter. New York State Teachers Retirement System now owns 342,436 shares of the real estate investment trust’s stock valued at $7,968,000 after purchasing an additional 12,777 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Brixmor Property Group by 1,073.3% during the third quarter. Deutsche Bank AG now owns 3,019,909 shares of the real estate investment trust’s stock worth $62,754,000 after purchasing an additional 2,762,529 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Brixmor Property Group

In other news, Director Michael B. Berman sold 10,475 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total transaction of $239,039.50. Following the transaction, the director now owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael B. Berman sold 10,475 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total transaction of $239,039.50. Following the transaction, the director now directly owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian T. Finnegan sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the completion of the sale, the insider now directly owns 225,051 shares of the company’s stock, valued at approximately $5,176,173. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BRX shares. Stifel Nicolaus lifted their target price on shares of Brixmor Property Group from $22.75 to $24.00 and gave the stock a “hold” rating in a research report on Tuesday, February 13th. The Goldman Sachs Group reduced their price objective on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Mizuho restated a “neutral” rating and issued a $24.00 price objective (up from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Brixmor Property Group in a report on Tuesday, January 30th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Truist Financial reissued a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, March 25th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Brixmor Property Group Stock Performance

BRX stock opened at $22.30 on Friday. The firm has a market cap of $6.72 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 2.67 and a beta of 1.53. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.86. The stock has a 50-day moving average price of $22.25 and a 200-day moving average price of $22.28. Brixmor Property Group Inc. has a 1-year low of $19.40 and a 1-year high of $24.47.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). The business had revenue of $320.24 million during the quarter, compared to the consensus estimate of $314.82 million. Brixmor Property Group had a return on equity of 9.84% and a net margin of 22.47%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Brixmor Property Group Inc. will post 2.09 earnings per share for the current year.

Brixmor Property Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.89%. The ex-dividend date is Monday, July 1st. Brixmor Property Group’s dividend payout ratio is presently 117.20%.

About Brixmor Property Group

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 362 retail centers comprise approximately 64 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.