Brixmor Property Group Inc. (NYSE:BRX) Sees Significant Decrease in Short Interest

Brixmor Property Group Inc. (NYSE:BRX) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 8,570,000 shares, a decline of 6.6% from the November 15th total of 9,180,000 shares. Based on an average daily volume of 2,070,000 shares, the days-to-cover ratio is presently 4.1 days.

Brixmor Property Group Stock Performance

NYSE BRX traded up $0.01 during mid-day trading on Monday, reaching $28.89. 2,278,388 shares of the stock were exchanged, compared to its average volume of 2,248,163. The business’s 50 day moving average is $28.59 and its 200-day moving average is $26.31. Brixmor Property Group has a 1 year low of $20.80 and a 1 year high of $30.67. The company has a market capitalization of $8.73 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.96 and a beta of 1.58. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company posted $0.50 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that Brixmor Property Group will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.287 per share. The ex-dividend date is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 dividend on an annualized basis and a yield of 3.97%. Brixmor Property Group’s dividend payout ratio is currently 100.93%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BRX shares. Mizuho boosted their price objective on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI boosted their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Stifel Nicolaus boosted their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. KeyCorp boosted their target price on shares of Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Scotiabank boosted their target price on shares of Brixmor Property Group from $29.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.96.

Insider Activity

In related news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the completion of the transaction, the insider now owns 315,004 shares in the company, valued at $9,305,218.16. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Brixmor Property Group

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP raised its position in Brixmor Property Group by 36.3% during the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 364 shares during the period. Creative Planning raised its position in shares of Brixmor Property Group by 2.8% in the second quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 396 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Brixmor Property Group by 19.1% in the second quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 431 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Brixmor Property Group by 5.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 481 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of Brixmor Property Group by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 178,123 shares of the real estate investment trust’s stock valued at $4,961,000 after purchasing an additional 643 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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 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.