Brixmor Property Group Inc (NYSE:BRX) Sees Large Decline in Short Interest

Brixmor Property Group Inc (NYSE:BRX) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 9,048,232 shares, a decline of 29.5% from the March 29th total of 12,831,313 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average trading volume of 2,309,996 shares, the short-interest ratio is currently 3.9 days.

A number of large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of Brixmor Property Group by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 2,409,042 shares of the real estate investment trust’s stock valued at $42,183,000 after buying an additional 83,133 shares in the last quarter. Man Group plc increased its position in shares of Brixmor Property Group by 192.6% in the third quarter. Man Group plc now owns 298,328 shares of the real estate investment trust’s stock valued at $5,224,000 after buying an additional 196,362 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Brixmor Property Group by 27.2% in the third quarter. Advisors Asset Management Inc. now owns 33,972 shares of the real estate investment trust’s stock valued at $595,000 after buying an additional 7,271 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Brixmor Property Group by 22.4% in the third quarter. AQR Capital Management LLC now owns 210,542 shares of the real estate investment trust’s stock valued at $3,686,000 after buying an additional 38,510 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Brixmor Property Group by 6.0% in the third quarter. Teachers Advisors LLC now owns 755,500 shares of the real estate investment trust’s stock valued at $13,229,000 after buying an additional 42,686 shares in the last quarter. 98.75% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on the company. Zacks Investment Research raised Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus lifted their target price on Brixmor Property Group from $17.50 to $18.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Barclays reaffirmed a “hold” rating and set a $17.00 target price on shares of Brixmor Property Group in a report on Wednesday, March 6th. BMO Capital Markets reaffirmed a “hold” rating and set a $17.00 target price on shares of Brixmor Property Group in a report on Monday, February 11th. Finally, ValuEngine raised Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.39.

NYSE:BRX traded down $0.08 during trading hours on Friday, reaching $18.12. The company had a trading volume of 1,649,800 shares, compared to its average volume of 3,654,445. Brixmor Property Group has a 1-year low of $14.11 and a 1-year high of $18.71. The company has a market capitalization of $5.42 billion, a PE ratio of 9.79, a PEG ratio of 2.14 and a beta of 0.75. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.74.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.26). Brixmor Property Group had a net margin of 30.47% and a return on equity of 12.96%. The company had revenue of $291.10 million during the quarter, compared to analyst estimates of $290.85 million. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 8.2% compared to the same quarter last year. Equities research analysts predict that Brixmor Property Group will post 1.89 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, July 5th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend is Wednesday, July 3rd. Brixmor Property Group’s payout ratio is presently 60.54%.

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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 425 retail centers comprise approximately 74 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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