Brixmor Property Group Inc

BRX

Equity

ISIN US11120U1051 / Valor 21937955

New York Stock Exchange, Inc (2024-12-26)

USD 27.75+0.11%

Brixmor Property Group Inc
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About company

Brixmor Property Group Inc is a real estate investment trust that owns and operates around 360 retail centers throughout the United States. These retail centers serve as hubs where retailers and communities come together to create vibrant and thriving spaces. With a focus on providing attractive and convenient locations for retailers, Brixmor plays a key role in supporting local economies and fostering community engagement.

Summarized from source with an LLMView SourceSector: Finance

Net Income Growth

Brixmor Property Group Inc. reported a significant increase in net income for the third quarter of 2024, reaching $0.32 per diluted share, compared to $0.21 per diluted share in the same quarter of 2023. This growth reflects the company's strong operational performance and strategic initiatives.

Record Occupancy Levels

During Q3 2024, Brixmor Property Group Inc. achieved record occupancy levels, with total leased occupancy at 95.6%, anchor leased occupancy at 97.7%, and small shop leased occupancy at 91.1%. These figures highlight the company's successful leasing strategies and robust demand for its properties.

Same Property NOI Increase

Brixmor Property Group Inc. reported a 4.1% increase in same property net operating income (NOI) for the third quarter of 2024. This growth was driven by strong leasing activity and effective property management, contributing to the company's overall financial performance.

Leasing and Rent Spreads

In Q3 2024, Brixmor Property Group Inc. executed 1.1 million square feet of new and renewal leases, achieving impressive rent spreads of 21.8%. This leasing activity underscores the company's ability to capture higher rents and enhance its revenue streams.

Dividend and FFO Guidance

Brixmor Property Group Inc. increased its quarterly dividend by 5.5% to $0.2875 per share in the third quarter of 2024. Additionally, the company updated its 2024 funds from operations (FFO) guidance to a range of $2.13 to $2.15 per share, reflecting confidence in its financial outlook and continued growth potential.

Summarized from source with an LLMView Source

Key figures

17.7%1Y

13.3%3Y

30.1%5Y

Performance

19.8%1Y

25.5%3Y

42.5%5Y

Volatility