KBC Group NV boosted its stake in shares of Brixmor Property Group Inc. (NYSE:BRX – Free Report) by 2,807.0% in the first quarter, Holdings Channel reports. The institutional investor owned 243,461 shares of the real estate investment trust’s stock after purchasing an additional 235,086 shares during the period. KBC Group NV’s holdings in Brixmor Property Group were worth $7,012,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Brixmor Property Group by 686.1% in the first quarter. Principal Financial Group Inc. now owns 5,176,486 shares of the real estate investment trust’s stock worth $149,083,000 after acquiring an additional 4,518,001 shares in the last quarter. Norges Bank purchased a new stake in shares of Brixmor Property Group in the fourth quarter worth $112,307,000. Centersquare Investment Management LLC increased its holdings in shares of Brixmor Property Group by 22.5% during the fourth quarter. Centersquare Investment Management LLC now owns 12,384,526 shares of the real estate investment trust’s stock valued at $324,722,000 after acquiring an additional 2,275,242 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Brixmor Property Group by 49.6% during the third quarter. Wellington Management Group LLP now owns 6,395,999 shares of the real estate investment trust’s stock valued at $177,041,000 after acquiring an additional 2,119,890 shares in the last quarter. Finally, Heitman Real Estate Securities LLC purchased a new position in shares of Brixmor Property Group in the 4th quarter worth about $48,503,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.
Brixmor Property Group Stock Down 0.8%
BRX stock opened at $32.42 on Thursday. Brixmor Property Group Inc. has a 1-year low of $24.66 and a 1-year high of $32.86. The business has a fifty day moving average price of $31.23 and a 200-day moving average price of $29.62. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $9.95 billion, a P/E ratio of 22.52, a P/E/G ratio of 2.74 and a beta of 0.98.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Brixmor Property Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of Brixmor Property Group from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Stifel Nicolaus lifted their target price on shares of Brixmor Property Group from $29.75 to $31.00 and gave the stock a “hold” rating in a report on Tuesday, April 28th. BMO Capital Markets upped their target price on shares of Brixmor Property Group from $35.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Finally, Jefferies Financial Group upgraded shares of Brixmor Property Group to a “strong-buy” rating in a report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.75.
Get Our Latest Stock Analysis on BRX
Brixmor Property Group Company Profile
Brixmor Property Group is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of open-air shopping centers across the United States. The company acquires and leases retail properties that feature everyday, necessity-based tenants such as grocery stores, discount retailers, and service providers. Brixmor’s core strategy centers on generating stable, long-term income streams through tenant relationships and targeted property enhancements.
The company’s main business activities include proactive leasing, property upkeep and capital improvement projects designed to maximize occupancy and tenant satisfaction.
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