Short Interest in Brixmor Property Group Inc. (NYSE:BRX) Drops By 16.6%

Brixmor Property Group Inc. (NYSE:BRX) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 7,410,000 shares, a decrease of 16.6% from the September 15th total of 8,890,000 shares. Based on an average daily trading volume, of 2,190,000 shares, the days-to-cover ratio is currently 3.4 days.

Insider Transactions at Brixmor Property Group

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the sale, the director now directly owns 46,291 shares in the company, valued at approximately $1,178,105.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Brixmor Property Group

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in shares of Brixmor Property Group during the 1st quarter valued at about $47,000. PGGM Investments raised its stake in shares of Brixmor Property Group by 167.2% during the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock valued at $86,847,000 after buying an additional 2,353,582 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Brixmor Property Group during the 1st quarter valued at about $16,964,000. SG Americas Securities LLC raised its stake in shares of Brixmor Property Group by 115.8% during the 1st quarter. SG Americas Securities LLC now owns 136,678 shares of the real estate investment trust’s stock valued at $3,205,000 after buying an additional 73,335 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Brixmor Property Group during the 1st quarter valued at about $124,978,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BRX. The Goldman Sachs Group increased their price objective on Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Compass Point increased their target price on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Stifel Nicolaus increased their target price on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Evercore ISI increased their target price on Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Truist Financial raised their price objective on Brixmor Property Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.38.

Brixmor Property Group Stock Performance

BRX stock traded up $0.19 during midday trading on Wednesday, reaching $27.93. The stock had a trading volume of 517,098 shares, compared to its average volume of 2,301,801. The stock has a market cap of $8.42 billion, a PE ratio of 29.83, a P/E/G ratio of 4.43 and a beta of 1.57. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a fifty day simple moving average of $27.01 and a two-hundred day simple moving average of $24.20. Brixmor Property Group has a 52-week low of $19.55 and a 52-week high of $28.45.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The firm had revenue of $315.69 million during the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. As a group, equities research analysts anticipate that Brixmor Property Group will post 2.13 EPS for the current year.

Brixmor Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.2725 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.90%. Brixmor Property Group’s payout ratio is currently 117.20%.

About Brixmor Property Group

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.