Brixmor Property Group Inc
NYSE:BRX

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Brixmor Property Group Inc Logo
Brixmor Property Group Inc
NYSE:BRX
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Price: 25.19 USD -0.28% Market Closed
Market Cap: 7.7B USD

Brixmor Property Group Inc
Investor Relations

Brixmor Property Group Inc. stands out as a major player in the real estate industry, specializing in owning and operating open-air retail shopping centers. With a portfolio sprawling across various geographic locales in the United States, Brixmor is strategically positioned to attract a diverse mix of tenants, ranging from national retail chains to local businesses. The company's core expertise lies in identifying attractive retail properties and then skillfully managing them to optimize tenant relationships and enhance consumer traffic. By focusing on well-located centers that serve growing communities, Brixmor secures reliable rental income streams and positions itself to benefit from the underlying land value appreciation.

Financially, Brixmor generates revenue primarily through leasing space to tenants, with rental income being its foundational earnings pillar. The company leverages long-term leases that often include provisions for percentage rent, a percentage of sales from some tenants, adding a dynamic revenue stream tied to tenant success. Additionally, Brixmor constantly enhances property appeal and functionality, investing in renovations and modernizations that attract higher-quality tenants and command competitive rents. This comprehensive approach to property management ensures Brixmor maintains high occupancy rates and sustains a steady cash flow, which is further bolstered through strategic leasing practices and redevelopment projects.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 28, 2025
AI Summary
Q3 2025

Leasing Momentum: Brixmor achieved record new lease rates of $25.85 per square foot and executed 1.5 million square feet of leases at an 18% blended cash spread.

Occupancy Strength: Small shop occupancy hit another record at 91.4%, with management noting further room to increase.

Financial Results: NAREIT FFO was $0.56 per share for the quarter, supported by 4% same-property NOI growth.

Dividend Increase: The annual dividend was raised by 7% to $1.23 per share.

Guidance Update: FFO guidance for 2025 was increased to $2.23–$2.25 per share, while same-property NOI outlook was affirmed at 3.9%–4.3%.

Capital Recycling: The company closed $223 million in acquisitions and $148 million in dispositions year-to-date, with more acquisitions under control and a focus on higher-growth assets.

Tenant Health: Exposure to at-risk tenants has decreased, and new tenants are of higher credit quality.

Reinvestment Pipeline: Eight value-enhancing projects were stabilized in the quarter, and a strong pipeline of redevelopment and grocery-anchored projects remains.

Liquidity & Flexibility: Brixmor ended the quarter with $1.6 billion in available liquidity and extended its buyback program for another 3 years.

Key Financials
NAREIT FFO per Share
$0.56
Same-Property NOI Growth
4%
Annual Dividend
$1.23
Leasing Volume
1.5 million square feet
Blended Cash Leasing Spread
18%
New Lease Rate
$25.85 per square foot
Small Shop Occupancy
91.4%
Signed Not Yet Commenced Pipeline
$60 million
New ABR Commenced in Quarter
$22 million
ABR from Grocery-Anchored Centers
82%
Liquidity
$1.6 billion
Dispositions Year-to-Date
$148 million
Acquisitions Year-to-Date
$223 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. James M. Taylor Jr.
CEO & Director
No Bio Available
Mr. Brian T. Finnegan
President & COO
No Bio Available
Mr. Mark T. Horgan
Executive VP & Chief Investment Officer
No Bio Available
Mr. Steven F. Siegel J.D.
Executive VP, General Counsel & Secretary
No Bio Available
Mr. Steven T. Gallagher
Executive VP, CFO & Treasurer
No Bio Available
Mr. Kevin Brydzinski
Senior VP & Chief Accounting Officer
No Bio Available
Ms. Helane G. Stein
Executive VP & Chief Information Officer
No Bio Available
Ms. Stacy Slater
Senior Vice President of Investor Relations & Capital Markets
No Bio Available
Ms. Kristen Moore
Senior Vice President of Marketing
No Bio Available
Ms. Shea Taylor
Executive VP & Chief Talent Officer
No Bio Available

Contacts

Address
NEW YORK
New York City
450 Lexington Ave
Contacts
+12128693000.0
brixmor.com