Resona Asset Management Co. Ltd. Invests $3.32 Million in Brixmor Property Group Inc. (NYSE:BRX)

Resona Asset Management Co. Ltd. purchased a new position in shares of Brixmor Property Group Inc. (NYSE:BRX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 120,313 shares of the real estate investment trust’s stock, valued at approximately $3,320,000.

Several other large investors also recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Brixmor Property Group by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 5,653,925 shares of the real estate investment trust’s stock valued at $157,450,000 after purchasing an additional 38,911 shares during the period. Norges Bank bought a new stake in Brixmor Property Group during the 4th quarter valued at approximately $110,205,000. Arrowstreet Capital Limited Partnership boosted its stake 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 valued at $59,079,000 after purchasing an additional 430,802 shares during the period. Prudential Financial Inc. boosted its stake in Brixmor Property Group by 16.4% during the 4th quarter. Prudential Financial Inc. now owns 2,109,892 shares of the real estate investment trust’s stock valued at $58,739,000 after purchasing an additional 296,570 shares during the period. Finally, abrdn plc boosted its stake in Brixmor Property Group by 18.7% during the 4th quarter. abrdn plc now owns 1,106,447 shares of the real estate investment trust’s stock valued at $30,698,000 after purchasing an additional 174,155 shares during the period. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BRX shares. Jefferies Financial Group upgraded Brixmor Property Group from a “hold” rating to a “buy” rating and increased their target price for the company from $28.00 to $33.00 in a research note on Friday, February 14th. Wells Fargo & Company cut their price target on Brixmor Property Group from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Mizuho cut their price target on Brixmor Property Group from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, February 25th. Evercore ISI raised Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Tuesday, February 11th. Finally, Stifel Nicolaus cut their price target on Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.48.

Brixmor Property Group Trading Up 7.6 %

Shares of BRX opened at $24.81 on Thursday. Brixmor Property Group Inc. has a 1 year low of $20.80 and a 1 year 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 stock has a 50 day simple moving average of $26.31 and a 200-day simple moving average of $27.34. The stock has a market cap of $7.59 billion, a PE ratio of 22.35, a PEG ratio of 2.66 and a beta of 1.30.

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

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.64%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is currently 103.60%.

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.