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Brixmor Property (BRX)
NYSE:BRX
Earnings Data
Report Date
Apr 28, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.23Last Year’s EPS
0.29Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 10, 2025
|% Change Since: 4.13%
|Next Earnings Date:Apr 28, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted a strong financial performance with significant growth in NOI and FFO, alongside successful leasing activity and strategic acquisitions. However, there were concerns about the impact of tenant bankruptcies on occupancy and potential future disruptions. Overall, the positive aspects of growth and financial strength outweigh the challenges posed by tenant disruptions.Company Guidance
During Brixmor Property Group Inc.'s fourth quarter 2024 earnings call, key financial metrics were highlighted, showcasing the company's solid performance and future outlook. The company reported a 5% year-over-year growth in both net operating income (NOI) and funds from operations (FFO), with FFO per share reaching $2.13 for the year. Same property NOI grew by 5%, contributing to a fourth-quarter FFO of $0.53 per share. Leasing activity was robust, with $118 million in new and renewal lease average base rent (ABR) signed during the year, including $32 million in the fourth quarter, and overall occupancy increased to 95.2%. Small shop occupancy reached record levels, and grocery-anchored centers accounted for 81% of ABR, reflecting strong tenant demand. The company's redevelopment efforts yielded $205 million of reinvestment at an average incremental return of 9%, with a future pipeline nearing $400 million at a 10% return. Looking ahead, Brixmor anticipates 2025 same property NOI growth between 3.5% and 4.5%, despite anticipated tenant disruptions. The company maintains strong liquidity with $1.6 billion available and a debt-to-EBITDA ratio of 5.7 times, positioning it well for continued growth and value creation.Strong Financial Performance
Brixmor Property Group reported a 5% growth in both NOI and FFO, with NAREIT FFO per share reaching $2.13, representing an almost 5% increase from the previous year.
High Leasing Activity
Executed 1.5 million square feet of new and renewal leases at a blended cash spread of 21%, including 830,000 square feet of new leases, marking the highest quarterly output in two years.
Robust Same Property NOI Growth
Same property NOI grew 5% for the year, with a base rent growth contributing 600 basis points to same property NOI growth in Q4.
Successful Dispositions and Acquisitions
Completed $212 million of dispositions and $290 million of value-add acquisitions, including assets in core markets like Hartford, Tampa, and Boston.
Improved Balance Sheet
Credit rating upgraded to BAA2 by Moody's, with no debt maturities until June 2026 and total liquidity of $1.6 billion.
Record Occupancy Levels
Anchor occupancy reached 97.2% with a record 81% of ABR derived from grocery-anchored centers.
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BRX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BRX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 10, 2025 | $26.18 | $27.21 | +3.93% |
| Oct 28, 2024 | $27.44 | $27.23 | -0.77% |
| Jul 29, 2024 | $24.22 | $25.85 | +6.73% |
| Apr 29, 2024 | $21.44 | $21.40 | -0.19% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Brixmor Property (BRX) report earnings?
Brixmor Property (BRX) is schdueled to report earning on Apr 28, 2025, TBA Not Confirmed.
What is Brixmor Property (BRX) earnings time?
Brixmor Property (BRX) earnings time is at Apr 28, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BRX EPS forecast?
BRX EPS forecast for the fiscal quarter 2025 (Q1) is 0.23.
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