Louisiana State Employees Retirement System Makes New Investment in Brixmor Property Group Inc. (NYSE:BRX)

Louisiana State Employees Retirement System bought a new position in shares of Brixmor Property Group Inc. (NYSE:BRX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 84,400 shares of the real estate investment trust’s stock, valued at approximately $1,964,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of Brixmor Property Group in the first quarter worth $43,000. Covestor Ltd raised its position in shares of Brixmor Property Group by 170.2% in the first quarter. Covestor Ltd now owns 1,840 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 1,159 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of Brixmor Property Group by 42.9% in the first quarter. Belpointe Asset Management LLC now owns 1,931 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 580 shares in the last quarter. Fifth Third Bancorp raised its position in Brixmor Property Group by 27.9% during the third quarter. Fifth Third Bancorp now owns 2,454 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 535 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Brixmor Property Group during the second quarter valued at about $80,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Stock Up 1.4 %

Shares of NYSE:BRX opened at $21.31 on Friday. The stock’s 50-day moving average price is $22.48 and its 200-day moving average price is $22.10. Brixmor Property Group Inc. has a 12-month low of $19.40 and a 12-month high of $24.47. The stock has a market capitalization of $6.42 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 2.54 and a beta of 1.53. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.73.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data 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 company had revenue of $316.49 million for the quarter, compared to the consensus estimate of $311.77 million. Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. On average, equities analysts anticipate that Brixmor Property Group Inc. will post 2.08 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a $0.273 dividend. The ex-dividend date of this dividend was Monday, April 1st. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.09 annualized dividend and a dividend yield of 5.12%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 107.92%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on 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 raised their price target on Brixmor Property Group from $22.75 to $24.00 and gave the company a “hold” rating in a research report on Tuesday, February 13th. Mizuho restated a “neutral” rating and set a $24.00 price target (up previously from $23.00) on shares of Brixmor Property Group in a research report on Friday, February 23rd. Truist Financial restated a “buy” rating and set a $25.00 price target on shares of Brixmor Property Group in a research report on Monday, March 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on 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. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.38.

Insider Buying and Selling

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

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.