Principal Financial Group Inc. Has $19.43 Million Stock Position in Brixmor Property Group Inc. (NYSE:BRX)

Principal Financial Group Inc. cut its holdings in shares of Brixmor Property Group Inc. (NYSE:BRX) by 30.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 697,482 shares of the real estate investment trust’s stock after selling 305,735 shares during the period. Principal Financial Group Inc. owned 0.23% of Brixmor Property Group worth $19,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. PGGM Investments grew its stake in shares of Brixmor Property Group by 167.2% during the second quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after purchasing an additional 2,353,582 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Brixmor Property Group in the 1st quarter valued at about $16,964,000. Boston Partners raised its position in shares of Brixmor Property Group by 1,140.5% in the 1st quarter. Boston Partners now owns 545,367 shares of the real estate investment trust’s stock valued at $12,774,000 after acquiring an additional 501,403 shares during the period. Canada Pension Plan Investment Board bought a new position in Brixmor Property Group during the 1st quarter worth approximately $124,978,000. Finally, Wolverine Asset Management LLC acquired a new position in Brixmor Property Group during the second quarter valued at approximately $494,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BRX shares. JPMorgan Chase & Co. raised their price target on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. KeyCorp upped 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 note on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Evercore ISI increased 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. Finally, StockNews.com lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.88.

Brixmor Property Group Stock Performance

BRX opened at $28.68 on Friday. Brixmor Property Group Inc. has a 1 year low of $20.80 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $8.66 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 3.92 and a beta of 1.57. The business has a fifty day simple moving average of $27.76 and a 200 day simple moving average of $25.15.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data 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 net margin of 25.81% and a return on equity of 11.48%. The business had revenue of $320.68 million during the quarter, compared to the consensus estimate of $320.22 million. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts expect that Brixmor Property Group Inc. will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be given a $0.287 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.00%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is presently 106.48%.

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.