Brixmor Property Group Inc. (NYSE:BRX – Get Free Report) saw a large growth in short interest in July. As of July 31st, there was short interest totalling 6,610,000 shares, a growth of 25.2% from the July 15th total of 5,280,000 shares. Based on an average daily volume of 2,070,000 shares, the days-to-cover ratio is presently 3.2 days.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRX. Wellington Management Group LLP lifted its holdings in shares of Brixmor Property Group by 99.4% in the first quarter. Wellington Management Group LLP now owns 20,119,950 shares of the real estate investment trust’s stock valued at $519,296,000 after purchasing an additional 10,028,534 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Brixmor Property Group by 177.5% in the fourth quarter. Franklin Resources Inc. now owns 10,665,251 shares of the real estate investment trust’s stock valued at $241,781,000 after purchasing an additional 6,822,358 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of Brixmor Property Group in the first quarter valued at about $100,068,000. Norges Bank bought a new stake in shares of Brixmor Property Group in the fourth quarter valued at about $67,125,000. Finally, State Street Corp lifted its holdings in shares of Brixmor Property Group by 13.6% in the first quarter. State Street Corp now owns 16,686,118 shares of the real estate investment trust’s stock valued at $430,669,000 after purchasing an additional 2,001,159 shares in the last quarter. 95.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. StockNews.com assumed coverage on Brixmor Property Group in a research report on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler raised their target price on Brixmor Property Group from $26.00 to $28.00 in a research report on Monday, May 8th. Truist Financial cut their target price on Brixmor Property Group from $26.00 to $25.00 in a research report on Monday, May 15th. Stifel Nicolaus cut their target price on Brixmor Property Group from $25.00 to $24.50 in a research report on Tuesday, May 2nd. Finally, Wells Fargo & Company lifted their price objective on Brixmor Property Group from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.68.
Brixmor Property Group Stock Down 0.4 %
Shares of Brixmor Property Group stock opened at $22.82 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.71. Brixmor Property Group has a 12 month low of $17.62 and a 12 month high of $24.49. The business has a fifty day simple moving average of $22.12 and a 200 day simple moving average of $21.66. The stock has a market cap of $6.86 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59.
Brixmor Property Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Tuesday, October 3rd will be paid a $0.26 dividend. The ex-dividend date is Monday, October 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 4.56%. Brixmor Property Group’s payout ratio is 88.89%.
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 367 retail centers comprise approximately 65 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.
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