The Vanguard Group, Inc. recently announced the acquisition of new stake in Brixmor Property Group Inc. (NYSE:BRX). The institutional investor has increased its shareholding in the Real Estate company by 0.83% to 45.23 million shares with purchase of 0.37 million shares. This fresh investment now brings its stake to 15.05% valued currently at $964.78 million. In addition, BlackRock Fund Advisors raised its holdings by 0.11 million to 29.68 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.95% or 0.32 million shares – to 16.84 million shares.
With over 1.99 million Brixmor Property Group Inc. (BRX) shares trading Friday and a closing price of $20.26 on the day, the dollar volume was approximately $40.27 million. The shares have shown a negative half year performance of -8.49% and its price on 05/19/23 lost nearly -0.69%. Currently, there are 300.82M common shares owned by the public and among those 298.27M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for BRX have a consensus price objective of $24.92. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $21.00. The average price target is 18.7% above its recent price level and an upside to the estimated low will see the stock gain 3.52% over that period. But an upside of 30.14% will see the stock hit the forecast high price target while median target price for the stock is $24.75.
Insiders at the company have transacted a total of 88 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 701,386 shares. Insider sales of the common stock occurred on 42 occasions, with total insider shares sold totaling 367,640 shares.
The top 3 mutual fund holders in Brixmor Property Group Inc. are Vanguard Real Estate Index Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. Vanguard Real Estate Index Fund owns 13.21 million shares of the company’s stock, all valued at over $281.82 million. The company sold -0.11 million shares recently to bring their total holdings to about 4.40% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 33432.0 shares to see its total holdings expand to 9.36 million shares valued at over $199.62 million and representing 3.11% of the shares outstanding. Vanguard Total Stock Market ETF bought 24567.0 shares to bring its total holdings to over 9.24 million shares at a value of $197.14 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.08% of the shares outstanding.
Shares of Brixmor Property Group Inc. (NYSE: BRX) opened at $20.58, up $0.18 from a prior closing price of $20.40. However, the script later moved the day high at 20.65, down -0.69%. The company’s stock has a 5-day price change of -1.84% and -12.75% over the past three months. BRX shares are trading -10.63% year to date (YTD), with the 12-month market performance down to -13.71% lower. It has a 12-month low price of $17.62 and touched a high of $24.52 over the same period. BRX has an average intraday trading volume of 2.17 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.53%, -2.43%, and -6.34% respectively.
Institutional ownership of Brixmor Property Group Inc. (NYSE: BRX) shares accounts for 99.40% of the company’s 300.82M shares outstanding. Mutual fund holders own 35.62%, while other institutional holders and individual stakeholders account for 60.75% and 1.78% respectively.
It has a market capitalization of $6.13B and a beta (3y monthly) value of 1.55. The stock’s trailing 12-month PE ratio is 15.89, while the earnings-per-share (ttm) stands at $1.27. The company has a debt-to-equity ratio at 1.72. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.65% over the week and 2.28% over the month.
Analysts forecast that Brixmor Property Group Inc. (BRX) will achieve an EPS of $0.21 for the current quarter, $0.2 for the next quarter and $0.93 for 2024. The lowest estimate earnings-per-share for the quarter is $0.2 while analysts give the company a high EPS estimate of $0.23. Comparatively, EPS for the current quarter was $0.29 a year ago. Earnings per share for the fiscal year are expected to increase by 29.80%, and -6.36% over the next financial year. EPS should shrink at an annualized rate of -2.33% over the next five years, compared to 3.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Brixmor Property Group Inc. (BRX) as a “Moderate Buy” at a consensus score of 2.30. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 8 of the 18 advise that investors “hold,” and 0 rated it as a “Sell.”
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