The Manufacturers Life Insurance Company Decreases Holdings in Brixmor Property Group Inc. (NYSE:BRX)

The Manufacturers Life Insurance Company decreased its holdings in Brixmor Property Group Inc. (NYSE:BRX) by 5.6% in the fourth quarter, Holdings Channel reports. The fund owned 276,934 shares of the real estate investment trust’s stock after selling 16,583 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Brixmor Property Group were worth $7,710,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Canada Pension Plan Investment Board lifted its position in Brixmor Property Group by 6.4% in the fourth quarter. Canada Pension Plan Investment Board now owns 7,792,016 shares of the real estate investment trust’s stock worth $216,930,000 after buying an additional 467,146 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Brixmor Property Group by 61.1% during the 4th quarter. Invesco Ltd. now owns 5,748,492 shares of the real estate investment trust’s stock worth $160,038,000 after purchasing an additional 2,180,541 shares during the period. Geode Capital Management LLC grew its holdings in Brixmor Property Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 5,653,925 shares of the real estate investment trust’s stock valued at $157,450,000 after purchasing an additional 38,911 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Brixmor Property Group by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,685,872 shares of the real estate investment trust’s stock valued at $130,452,000 after purchasing an additional 38,427 shares during the last quarter. Finally, Norges Bank purchased a new stake in Brixmor Property Group in the 4th quarter worth about $110,205,000. 98.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BRX has been the subject of several recent analyst reports. Wells Fargo & Company dropped their target price on Brixmor Property Group from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. The Goldman Sachs Group dropped their price objective on Brixmor Property Group from $33.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Mizuho decreased their target price on Brixmor Property Group from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Scotiabank lowered their target price on shares of Brixmor Property Group from $32.00 to $30.00 and set a “sector outperform” rating for the company in a research note on Friday, February 28th. Finally, Evercore ISI raised shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price target on the stock in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.48.

Brixmor Property Group Stock Down 0.6 %

Shares of Brixmor Property Group stock opened at $25.15 on Wednesday. Brixmor Property Group Inc. has a 1 year low of $21.32 and a 1 year high of $30.67. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 2.66 and a beta of 1.25. The firm’s 50-day moving average is $25.63 and its two-hundred day moving average is $27.04.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $337.51 million for the quarter, compared to analyst estimates of $329.81 million. Brixmor Property Group had a net margin of 26.40% and a return on equity of 11.72%. Brixmor Property Group’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. As a group, research analysts expect that Brixmor Property Group Inc. will post 2.22 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd will be given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date is Wednesday, July 2nd. Brixmor Property Group’s payout ratio is currently 109.52%.

Brixmor Property Group 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.