Wolverine Asset Management LLC Invests $707,000 in Brixmor Property Group Inc. (NYSE:BRX)

Wolverine Asset Management LLC purchased a new position in Brixmor Property Group Inc. (NYSE:BRX) in the fourth quarter, Holdings Channel.com reports. The fund purchased 30,393 shares of the real estate investment trust’s stock, valued at approximately $707,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BRX. Deutsche Bank AG lifted its stake in Brixmor Property Group by 1,073.3% in 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 acquiring an additional 2,762,529 shares during the period. Invesco Ltd. lifted its stake in Brixmor Property Group by 22.8% in the third quarter. Invesco Ltd. now owns 6,929,942 shares of the real estate investment trust’s stock worth $144,004,000 after acquiring an additional 1,288,656 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Brixmor Property Group by 9.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,918,610 shares of the real estate investment trust’s stock worth $268,449,000 after acquiring an additional 1,130,130 shares during the period. Wellington Management Group LLP lifted its stake in Brixmor Property Group by 9.7% in the third quarter. Wellington Management Group LLP now owns 10,521,686 shares of the real estate investment trust’s stock worth $218,641,000 after acquiring an additional 929,966 shares during the period. Finally, Strs Ohio lifted its stake in Brixmor Property Group by 126.8% in the third quarter. Strs Ohio now owns 1,332,975 shares of the real estate investment trust’s stock worth $27,699,000 after acquiring an additional 745,288 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Trading Down 0.2 %

BRX stock opened at $21.72 on Friday. Brixmor Property Group Inc. has a 1-year low of $19.40 and a 1-year high of $24.47. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 2.62 and a beta of 1.53. The business has a 50 day simple moving average of $22.38 and a two-hundred day simple moving average of $22.16.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.27). The business had revenue of $316.49 million during the quarter, compared to the consensus estimate of $311.77 million. Brixmor Property Group had a return on equity of 10.63% and a net margin of 24.50%. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 earnings per share. Research analysts anticipate that Brixmor Property Group Inc. will post 2.08 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were given a dividend of $0.273 per share. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.09 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Monday, April 1st. Brixmor Property Group’s dividend payout ratio is currently 107.92%.

Insider Activity

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

Analysts Set New Price Targets

A number of brokerages recently commented on BRX. Truist Financial reaffirmed a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, March 25th. Stifel Nicolaus boosted their target price on shares of Brixmor Property Group from $22.75 to $24.00 and gave the company a “hold” rating in a report on Tuesday, February 13th. Mizuho restated a “neutral” rating and set a $24.00 target price (up previously from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of 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, The Goldman Sachs Group dropped their target price on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brixmor Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $25.38.

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.