Brixmor Property Group (BRX, Financial)is a real estate investment trust that owns grocery-anchored shopping centers. The company has been in the midst of a multiyear transformation aimed at sharpening its portfolio. These efforts have included reducing the number of markets in which the company operates, increasing the number of redevelopments that it is undertaking and swapping out certain anchor tenants for better ones. During the quarter, Brixmor shares outpaced broader REITs as investors became bigger believers in Brixmor’s accelerating rental income and profit growth in the coming quarters. The company’s healthy 6% yield also has drawn some investor interest.
From Keeley Asset Management's Keeley Mid Cap Dividend Value Fund third-quarter 2019 shareholder letter.
