Ingalls & Snyder LLC grew its holdings in shares of Brixmor Property Group Inc (NYSE:BRX) by 31.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 164,700 shares of the real estate investment trust’s stock after acquiring an additional 39,857 shares during the quarter. Ingalls & Snyder LLC owned about 0.05% of Brixmor Property Group worth $3,073,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Brixmor Property Group during the 3rd quarter valued at about $100,000. Meeder Asset Management Inc. raised its holdings in shares of Brixmor Property Group by 621.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 6,845 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Brixmor Property Group by 159.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 5,203 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at about $191,000. Finally, IFM Investors Pty Ltd purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at about $197,000. Hedge funds and other institutional investors own 98.83% of the company’s stock.
Brixmor Property Group Inc (NYSE:BRX) traded down $0.09 on Friday, hitting $14.23. The stock had a trading volume of 13,463,757 shares, compared to its average volume of 3,777,807. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.96. Brixmor Property Group Inc has a 52-week low of $13.74 and a 52-week high of $24.64. The stock has a market capitalization of $4,339.25, a PE ratio of 13.42, a PEG ratio of 1.77 and a beta of 0.35.
Brixmor Property Group announced that its board has authorized a stock buyback plan on Tuesday, December 5th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
A number of equities analysts recently weighed in on the company. Mizuho reissued a “buy” rating and set a $19.50 price objective on shares of Brixmor Property Group in a report on Friday, November 10th. Boenning Scattergood reissued a “buy” rating and set a $22.00 price objective on shares of Brixmor Property Group in a report on Thursday, December 7th. Zacks Investment Research raised Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. ValuEngine cut Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, Mitsubishi UFJ Financial Group raised Brixmor Property Group from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.75.
Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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