Brixmor Property Group (NYSE:BRX) Shares Gap Up After Strong Earnings

Brixmor Property Group Inc. (NYSE:BRX) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $26.18, but opened at $26.94. Brixmor Property Group shares last traded at $26.83, with a volume of 228,702 shares trading hands.

The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a $0.2875 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.29. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.22%. Brixmor Property Group’s dividend payout ratio is currently 106.48%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BRX. Scotiabank upped their target price on 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. BMO Capital Markets raised shares of Brixmor Property Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $33.00 in a report on Friday, December 6th. Evercore ISI raised shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 target price for the company in a report on Tuesday. Wells Fargo & Company lowered their price target on shares of Brixmor Property Group from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Stifel Nicolaus reduced their price objective on Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.69.

Insider Activity at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total transaction of $738,500.00. Following the completion of the sale, the insider now directly owns 315,004 shares in the company, valued at approximately $9,305,218.16. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRX. Creative Planning lifted its stake in shares of Brixmor Property Group by 2.8% in the second quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 396 shares in the last quarter. UMB Bank n.a. lifted its stake in Brixmor Property Group by 328.6% in the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 723 shares in the last quarter. Hummer Financial Advisory Services Inc acquired a new position in shares of Brixmor Property Group during the 3rd quarter worth approximately $240,000. Harbour Capital Advisors LLC purchased a new stake in shares of Brixmor Property Group in the third quarter valued at approximately $696,000. Finally, Vert Asset Management LLC grew its position in shares of Brixmor Property Group by 2.8% in the third quarter. Vert Asset Management LLC now owns 119,534 shares of the real estate investment trust’s stock valued at $3,330,000 after purchasing an additional 3,250 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Stock Performance

The stock has a 50-day moving average of $27.23 and a 200 day moving average of $27.44. The stock has a market cap of $8.24 billion, a PE ratio of 25.25, a P/E/G ratio of 2.54 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 Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.