Brixmor Property Group Inc (NYSE:BRX) saw a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 15,720,000 shares, an increase of 44.2% from the November 14th total of 10,900,000 shares. Based on an average daily volume of 2,710,000 shares, the short-interest ratio is presently 5.8 days. Approximately 5.3% of the company’s shares are sold short.
A number of equities research analysts recently commented on the stock. Scotiabank lowered shares of Brixmor Property Group from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $20.00 to $19.00 in a report on Friday, August 16th. Barclays restated a “hold” rating and set a $21.00 price objective on shares of Brixmor Property Group in a report on Sunday, October 13th. Deutsche Bank lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $20.00 to $19.00 in a report on Thursday, September 5th. They noted that the move was a valuation call. BMO Capital Markets restated a “hold” rating and set a $17.50 price objective on shares of Brixmor Property Group in a report on Tuesday, October 29th. Finally, Evercore ISI lowered shares of Brixmor Property Group from an “outperform” rating to an “in-line” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $20.28.
In related news, insider Brian T. Finnegan sold 3,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $22.24, for a total transaction of $66,720.00. Following the sale, the insider now directly owns 224,646 shares in the company, valued at $4,996,127.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven F. Siegel sold 7,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $22.01, for a total transaction of $165,075.00. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of BRX. Miller Howard Investments Inc. NY acquired a new stake in Brixmor Property Group in the 3rd quarter valued at $49,019,000. Vanguard Group Inc. grew its position in shares of Brixmor Property Group by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 46,077,508 shares of the real estate investment trust’s stock valued at $823,865,000 after acquiring an additional 934,580 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Brixmor Property Group by 6.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,475,706 shares of the real estate investment trust’s stock valued at $232,843,000 after acquiring an additional 659,885 shares during the period. Nuveen Asset Management LLC grew its position in shares of Brixmor Property Group by 62.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,700,772 shares of the real estate investment trust’s stock valued at $30,410,000 after acquiring an additional 652,055 shares during the period. Finally, Duff & Phelps Investment Management Co. grew its position in shares of Brixmor Property Group by 25.4% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 2,789,122 shares of the real estate investment trust’s stock valued at $49,870,000 after acquiring an additional 564,700 shares during the period. Hedge funds and other institutional investors own 99.20% of the company’s stock.
BRX stock traded down $0.11 during midday trading on Friday, hitting $20.87. The company’s stock had a trading volume of 4,554,730 shares, compared to its average volume of 3,091,785. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.50 and a quick ratio of 0.50. Brixmor Property Group has a twelve month low of $14.11 and a twelve month high of $22.74. The company’s fifty day moving average price is $21.78 and its 200 day moving average price is $19.56. The stock has a market capitalization of $6.38 billion, a P/E ratio of 11.28, a PEG ratio of 2.39 and a beta of 0.73.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.20). Brixmor Property Group had a net margin of 24.75% and a return on equity of 10.41%. The business had revenue of $292.97 million during the quarter, compared to analyst estimates of $290.51 million. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. Equities analysts expect that Brixmor Property Group will post 1.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, January 6th will be paid a $0.285 dividend. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 5.46%. The ex-dividend date is Friday, January 3rd. Brixmor Property Group’s payout ratio is presently 60.54%.
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 425 retail centers comprise approximately 74 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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