Putnam Investments Increases Stake in Brixmor Property Group

Putnam Investments LLC has reported a 63.6% increase in its stake in Brixmor Property Group Inc. during the first quarter of 2023. The firm now owns 243,550 shares of the real estate investment trust’s stock, which is valued at $5,241,000. This increase in stake follows a number of other institutional investors and hedge funds who have also made changes to their positions in BRX.

Some of these changes include Cambridge Investment Research Advisors Inc., who acquired a new stake in Brixmor Property Group worth approximately $407,000, and AlphaCrest Capital Management LLC, who increased its position in the company by 44.2% to 14,689 shares. APG Asset Management N.V. also purchased a new position in Brixmor Property Group for around $371,000 during the first quarter.

In addition, Great West Life Assurance Co. Can lifted its position in the real estate investment trust by 5.5% and now owns 406,368 shares valued at $10,834,000. Vanguard Group Inc. grew its stake in Brixmor Property Group by 0.8% during the first quarter, owning 45,190,584 shares worth $1,166,369,000.

Overall, institutional investors and hedge funds now own 94.98% of Brixmor Property Group.

In terms of analyst ratings, several brokerages have recently commented on BRX. StockNews.com initiated coverage and issued a “hold” rating on the stock. Mizuho raised its price objective to $24.00 and rated the stock as a “buy,” while Truist Financial reiterated a “buy” rating with a $25.00 target price. Scotiabank also raised its rating from “sector perform” to “sector outperform” and set a price target of $25.00.

Brixmor Property Group currently has an average rating of “Moderate Buy” and a consensus price target of $25.13.

Brixmor Property Group Inc., traded on NYSE under the ticker symbol BRX, is a real estate investment trust (REIT) that owns and operates a national portfolio of open-air shopping centers. The company strives to be the center of the communities it serves and features a diverse mix of national, regional, and local retailers. Its retail centers encompass approximately 65 million square feet of prime retail space.

Source: MarketBeat

– Stake: The ownership interest or shares that an investor holds in a company.
– Real Estate Investment Trust (REIT): A corporation that owns and operates income-generating real estate properties, such as shopping centers, office buildings, and apartments. REITs offer investors the opportunity to invest in real estate without having to directly own, finance, or manage it.
– Ticker Symbol: A unique series of letters representing a particular stock on a stock exchange.
– Price Objective: An estimated price at which a stock is expected to reach, based on analysis and forecasts.
– Average Rating: The average of the recommendations given by various analysts covering a particular stock.
– Dividend Payout Ratio: The percentage of a company’s earnings that is paid out to shareholders as dividends.

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