Short Interest in Brixmor Property Group Inc. (NYSE:BRX) Drops By 5.3%

Brixmor Property Group Inc. (NYSE:BRXGet Free Report) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 9,460,000 shares, a decline of 5.3% from the February 29th total of 9,990,000 shares. Based on an average daily trading volume, of 2,570,000 shares, the short-interest ratio is currently 3.7 days.

Insider Activity

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

Hedge Funds Weigh In On Brixmor Property Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRX. Quarry LP bought a new position in Brixmor Property Group in the 4th quarter valued at approximately $40,000. Belpointe Asset Management LLC lifted its stake in Brixmor Property Group by 42.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,931 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 580 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Brixmor Property Group in the 1st quarter valued at approximately $43,000. GAMMA Investing LLC bought a new position in Brixmor Property Group in the 4th quarter valued at approximately $45,000. Finally, Covestor Ltd lifted its stake in Brixmor Property Group by 170.2% in the 1st quarter. Covestor Ltd now owns 1,840 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,159 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Stock Down 2.3 %

Brixmor Property Group stock opened at $22.18 on Wednesday. The stock has a market cap of $6.68 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.74 and a beta of 1.53. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.73. Brixmor Property Group has a twelve month low of $19.40 and a twelve month high of $24.47. The company’s 50-day moving average price is $22.70 and its two-hundred day moving average price is $22.10.

Brixmor Property Group (NYSE:BRXGet Free Report) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.27). The business had revenue of $316.49 million for the quarter, compared to analyst estimates of $311.77 million. Brixmor Property Group had a return on equity of 10.63% and a net margin of 24.50%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 EPS. As a group, analysts expect that Brixmor Property Group will post 2.08 EPS for the current year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, April 2nd will be given a dividend of $0.273 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, April 1st. This represents a $1.09 annualized dividend and a dividend yield of 4.92%. Brixmor Property Group’s dividend payout ratio (DPR) is currently 107.92%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BRX. Truist Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Brixmor Property Group in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Brixmor Property Group in a research report on Tuesday, January 30th. They set a “buy” rating and a $27.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Stifel Nicolaus boosted their price target 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. Finally, Mizuho reissued a “neutral” rating and set a $24.00 price target (up from $23.00) on shares of Brixmor Property Group in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.38.

Get Our Latest Analysis on Brixmor Property Group

About Brixmor Property Group

(Get Free Report)

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.

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