Assetmark Inc. Has $789,000 Stock Position in Brixmor Property Group Inc. (NYSE:BRX)

Assetmark Inc. increased its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 5.4% in the third quarter, Holdings Channel reports. The firm owned 28,312 shares of the real estate investment trust’s stock after buying an additional 1,456 shares during the quarter. Assetmark Inc.’s holdings in Brixmor Property Group were worth $789,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Canada Pension Plan Investment Board acquired a new stake in Brixmor Property Group during the first quarter worth approximately $124,978,000. PGGM Investments grew its holdings in 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 worth $86,847,000 after acquiring an additional 2,353,582 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in shares of Brixmor Property Group during the second quarter valued at approximately $49,546,000. Millennium Management LLC grew its stake in shares of Brixmor Property Group by 35.5% in the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock worth $132,443,000 after acquiring an additional 1,501,282 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Brixmor Property Group during the 1st quarter valued at $16,964,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Brixmor Property Group Price Performance

Shares of BRX opened at $28.83 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.93 and a beta of 1.57. Brixmor Property Group Inc. has a fifty-two week low of $20.80 and a fifty-two week high of $29.19. The firm has a 50-day simple moving average of $27.80 and a 200-day simple moving average of $25.20.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.21). Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The firm had revenue of $320.68 million for the quarter, compared to analysts’ expectations of $320.22 million. During the same period last year, the firm earned $0.50 EPS. Brixmor Property Group’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts anticipate that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio is presently 100.93%.

Analyst Upgrades and Downgrades

BRX has been the subject of a number of recent research reports. Mizuho boosted their target price on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their target price on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Truist Financial upped their price target on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday. Compass Point increased their price target on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Finally, Scotiabank raised their price target on Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Brixmor Property Group has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Brixmor Property Group Company Profile

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.