Rockefeller Financial Services Inc. bought a new stake in Brixmor Property Group Inc (NYSE:BRX) in the fourth quarter, HoldingsChannel.com reports. The firm bought 153,746 shares of the real estate investment trust’s stock, valued at approximately $2,869,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Brixmor Property Group in the 3rd quarter valued at approximately $100,000. Meeder Asset Management Inc. lifted its stake in shares of Brixmor Property Group by 621.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 6,845 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Brixmor Property Group by 159.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 5,203 shares during the period. CIBC Asset Management Inc purchased a new position in Brixmor Property Group during the third quarter valued at $191,000. Finally, IFM Investors Pty Ltd purchased a new position in Brixmor Property Group during the third quarter valued at $197,000. Institutional investors own 98.83% of the company’s stock.
Brixmor Property Group Inc (NYSE BRX) opened at $15.61 on Monday. Brixmor Property Group Inc has a one year low of $15.47 and a one year high of $24.64. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $4,760.07, a price-to-earnings ratio of 14.73, a PEG ratio of 1.94 and a beta of 0.35.
Brixmor Property Group declared that its board has authorized a stock buyback program on Tuesday, December 5th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have issued reports on BRX shares. Boenning Scattergood reiterated a “buy” rating and set a $22.00 price objective on shares of Brixmor Property Group in a research note on Tuesday, November 21st. Zacks Investment Research cut Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Stifel Nicolaus started coverage on Brixmor Property Group in a research note on Thursday, November 30th. They set a “hold” rating and a $19.00 price objective for the company. ValuEngine cut Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Royal Bank of Canada restated a “hold” rating and issued a $22.00 price target on shares of Brixmor Property Group in a research note on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.75.
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Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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