Summit Investment Advisors Inc. Lowers Stock Holdings in Brixmor Property Group Inc. (NYSE:BRX)

Summit Investment Advisors Inc. cut its position in Brixmor Property Group Inc. (NYSE:BRX) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 60,502 shares of the real estate investment trust’s stock after selling 1,322 shares during the period. Summit Investment Advisors Inc.’s holdings in Brixmor Property Group were worth $1,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Brixmor Property Group in the 4th quarter valued at about $110,205,000. Invesco Ltd. boosted its stake in shares of Brixmor Property Group by 61.1% in the fourth quarter. Invesco Ltd. now owns 5,748,492 shares of the real estate investment trust’s stock valued at $160,038,000 after purchasing an additional 2,180,541 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Brixmor Property Group in the third quarter valued at approximately $25,492,000. ExodusPoint Capital Management LP purchased a new stake in Brixmor Property Group during the 4th quarter worth approximately $20,271,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Brixmor Property Group by 25.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,122,101 shares of the real estate investment trust’s stock worth $59,079,000 after buying an additional 430,802 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Stock Down 0.2 %

Shares of NYSE:BRX opened at $24.98 on Wednesday. The firm has a 50 day simple moving average of $26.21 and a 200-day simple moving average of $27.25. Brixmor Property Group Inc. has a twelve month low of $20.80 and a twelve month high of $30.67. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $7.64 billion, a PE ratio of 22.50, a P/E/G ratio of 2.66 and a beta of 1.30.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a net margin of 26.40% and a return on equity of 11.72%. On average, equities analysts predict that Brixmor Property Group Inc. will post 2.22 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd were paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Wednesday, April 2nd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.29. Brixmor Property Group’s dividend payout ratio (DPR) is currently 103.60%.

Analyst Upgrades and Downgrades

BRX has been the subject of several research reports. Stifel Nicolaus dropped their price target on shares of Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company cut their price target on Brixmor Property Group from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Evercore ISI upgraded Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Tuesday, February 11th. Mizuho cut their target price on shares of Brixmor Property Group from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Finally, Scotiabank reduced their target price on shares of Brixmor Property Group from $32.00 to $30.00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and an average target price of $30.48.

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.