Charles Schwab Investment Management Inc. lifted its position in shares of Brixmor Property Group Inc. (NYSE:BRX – Free Report) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,300,889 shares of the real estate investment trust’s stock after purchasing an additional 74,347 shares during the period. Charles Schwab Investment Management Inc. owned about 1.43% of Brixmor Property Group worth $94,620,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of BRX. Belpointe Asset Management LLC raised its stake in Brixmor Property Group by 42.9% during the 1st quarter. Belpointe Asset Management LLC now owns 1,931 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 580 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Brixmor Property Group during the 1st quarter worth $43,000. Covestor Ltd raised its stake in Brixmor Property Group by 170.2% during the 1st quarter. Covestor Ltd now owns 1,840 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,159 shares in the last quarter. Trivant Custom Portfolio Group LLC acquired a new stake in Brixmor Property Group during the 1st quarter worth $54,000. Finally, Captrust Financial Advisors acquired a new stake in Brixmor Property Group during the 2nd quarter worth $80,000. 94.98% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
BRX has been the topic of several research analyst reports. Truist Financial reiterated a “buy” rating and set a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, August 21st. Scotiabank upgraded shares of Brixmor Property Group from a “sector perform” rating to a “sector outperform” rating and set a $25.00 price objective on the stock in a research note on Tuesday, September 5th. The Goldman Sachs Group upgraded shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $23.00 to $27.00 in a research note on Wednesday, August 16th. StockNews.com initiated coverage on shares of Brixmor Property Group in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Brixmor Property Group from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Monday, November 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.75.
Brixmor Property Group Stock Down 0.3 %
BRX stock opened at $21.60 on Tuesday. The company has a market cap of $6.49 billion, a P/E ratio of 19.29, a P/E/G ratio of 1.75 and a beta of 1.60. Brixmor Property Group Inc. has a 52 week low of $19.40 and a 52 week high of $24.26. The company’s 50-day moving average price is $21.00 and its 200 day moving average price is $21.42. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71.
Brixmor Property Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Wednesday, January 3rd will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $1.09 dividend on an annualized basis and a yield of 5.05%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.26. Brixmor Property Group’s payout ratio is currently 97.32%.
Brixmor Property Group Company Profile
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 365 retail centers comprise approximately 65 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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