Oliver Luxxe Assets LLC Acquires 14,458 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Oliver Luxxe Assets LLC raised its holdings in shares of Brixmor Property Group Inc. (NYSE:BRX) by 39.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,023 shares of the real estate investment trust’s stock after buying an additional 14,458 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Brixmor Property Group were worth $1,196,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. increased its position in Brixmor Property Group by 40.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 50,578 shares of the real estate investment trust’s stock worth $1,186,000 after acquiring an additional 14,671 shares during the period. Hummer Financial Advisory Services Inc bought a new stake in shares of Brixmor Property Group in the first quarter valued at about $202,000. Perpetual Ltd increased its stake in Brixmor Property Group by 25.4% during the first quarter. Perpetual Ltd now owns 75,910 shares of the real estate investment trust’s stock valued at $1,780,000 after acquiring an additional 15,380 shares during the period. Mather Group LLC. bought a new stake in shares of Brixmor Property Group in the 1st quarter worth approximately $165,000. Finally, Pensionfund Sabic increased its position in shares of Brixmor Property Group by 25.2% during the first quarter. Pensionfund Sabic now owns 57,211 shares of the real estate investment trust’s stock valued at $1,342,000 after purchasing an additional 11,500 shares during the period. 98.43% of the stock is owned by institutional investors.

Brixmor Property Group Trading Down 1.6 %

Shares of BRX traded down $0.37 during trading hours on Monday, hitting $22.72. 709,641 shares of the stock traded hands, compared to its average volume of 2,399,625. The business has a fifty day moving average of $22.22 and a 200-day moving average of $22.51. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $6.85 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.79 and a beta of 1.57. Brixmor Property Group Inc. has a 1-year low of $19.46 and a 1-year high of $24.47.

Brixmor Property Group (NYSE:BRX) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.84%. The business had revenue of $320.24 million for the quarter, compared to analyst estimates of $314.82 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts expect that Brixmor Property Group Inc. will post 2.1 EPS for the current year.

Brixmor Property Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be paid a dividend of $0.2725 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.80%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 117.21%.

Wall Street Analyst Weigh In

BRX has been the subject of several research reports. The Goldman Sachs Group reduced their target price on Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Truist Financial reiterated a “buy” rating and set a $25.00 target price on shares of Brixmor Property Group in a research report on Monday, March 25th. Wells Fargo & Company cut their price objective on Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 28th. Mizuho dropped their target price on shares of Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Brixmor Property Group currently has an average rating of “Moderate Buy” and an average price target of $25.13.

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 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.