915,000 Shares in Brixmor Property Group Inc. (NYSE:BRX) Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC bought a new stake in Brixmor Property Group Inc. (NYSE:BRX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 915,000 shares of the real estate investment trust’s stock, valued at approximately $25,492,000.

Several other large investors also recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its position in shares of Brixmor Property Group by 222.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 37,706 shares of the real estate investment trust’s stock worth $1,050,000 after buying an additional 26,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brixmor Property Group by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock valued at $138,185,000 after purchasing an additional 159,388 shares in the last quarter. Vestcor Inc acquired a new stake in shares of Brixmor Property Group in the third quarter valued at approximately $776,000. Wolverine Asset Management LLC acquired a new position in shares of Brixmor Property Group during the 2nd quarter worth approximately $494,000. Finally, Natixis Advisors LLC raised its position in shares of Brixmor Property Group by 33.3% during the 3rd quarter. Natixis Advisors LLC now owns 147,477 shares of the real estate investment trust’s stock worth $4,108,000 after purchasing an additional 36,823 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Insider Transactions at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the transaction, the insider now directly owns 315,004 shares of the company’s stock, valued at $9,305,218.16. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.76% of the company’s stock.

Brixmor Property Group Stock Up 0.1 %

Shares of BRX opened at $28.88 on Monday. Brixmor Property Group Inc. has a fifty-two week low of $20.80 and a fifty-two week high of $30.67. The company’s fifty day moving average is $28.59 and its two-hundred day moving average is $26.31. The firm has a market cap of $8.72 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 3.96 and a beta of 1.58. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The firm had revenue of $320.68 million during the quarter, compared to analysts’ expectations of $320.22 million. During the same period last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts forecast that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be paid a $0.287 dividend. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Friday, January 3rd. Brixmor Property Group’s payout ratio is currently 100.93%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial raised their price target on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Compass Point lifted their price objective on Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Mizuho upped their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. KeyCorp raised their price target on shares of Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Scotiabank boosted their price objective on shares of Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.96.

Brixmor Property Group 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 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.