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Group 1 - Brixmor Property Group (NYSE: BRX) has shown strong performance due to high demand for grocery-anchored locations [1] - The retail real estate sector is facing pressures, but limited new supply has supported outdoor retail spaces [1]

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Financial Data and Key Metrics Changes - NAREIT FFO was reported at $0.56 per share for Q1 2025, driven by same property NOI growth of 2.8% despite a 160 basis point drag from tenant disruption [12][13] - The company reduced leverage to 5.5 times debt to EBITDA and had $1.4 billion in available liquidity with no debt maturities until June 2026 [8][14] Business Line Data and Key Metrics Changes - The company executed 1.3 million square feet of new and renewal leases at a blended cash spread of 21%, with new leases at 48% and renewals at 14% [10] - The reinvestment pipeline reached $391 million with a weighted average return of 10%, and the leasing pipeline was up 30% in GLA year-over-year [11] Market Data and Key Metrics Changes - The company continues to capture a significant share of new store openings in core categories such as grocery and value apparel, with strong tenant performance driving year-over-year traffic growth [6][11] - The signed but not yet commenced pool totaled $60 million, with expectations to commence $48 million or 79% of this ABR ratably through the remainder of 2025 [13][14] Company Strategy and Development Direction - The company is focused on capitalizing on tenant disruption to bring in better tenants at higher rents, enhancing the overall portfolio quality [5][10] - The management expressed confidence in the ability to outperform in 2025 and 2026, supported by a robust leasing pipeline and low rent basis [6][9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the potential for economic slowdown and tariff uncertainty but emphasized strong tenant demand and the ability to navigate disruptions [5][6] - The company expects base rent to accelerate in the second half of the year as new leases commence, with a focus on maintaining a strong credit profile [15][16] Other Important Information - The company has maintained a conservative approach to guidance, factoring in potential tenant disruptions and bad debt [15][46] - The management highlighted the importance of tenant credit profiles and the resilience of their retail categories in the face of economic challenges [76][78] Q&A Session Summary Question: Exposure to Big Lots or Party City at quarter end - Management confirmed a 140 basis point impact from bankruptcies, primarily from Big Lots and Party City, and expects to recapture Joann boxes in May [17][18] Question: Growth visibility for the remainder of the year - Management expressed confidence in growth visibility due to a strong signed but not commenced pipeline and ongoing leasing activity [24][26] Question: Impact of tariffs on leasing discussions - Management noted that while tariffs are a concern, tenants in grocery and value segments are well-positioned and continue to show growth plans [28][30] Question: Expected capital spend for re-tenanting spaces - Management indicated that costs for re-tenanting are in line with previous backfills, averaging around $50 per square foot [62][64] Question: Impact of tariffs on tenant inventory - Management stated that retailers are preparing for potential tariff impacts and are adjusting sourcing strategies accordingly [90][92] Question: Guidance on lease term income - Management expects lease term income to normalize throughout the year, with visibility on tenant demand and credit [80][81]

Brixmor Property Group (BRX) Q1 2025 Earnings Call April 29, 2025 10:00 AM ET Company Participants Stacy Slater - Senior Vice President of Investor Relations & Capital MarketsJames Taylor - CEO, President & DirectorBrian Finnegan - President & COOSteven Gallagher - Executive VP, CFO & TreasurerSamir Khanal - DirectorAlexander Goldfarb - Managing DirectorGreg Mcginniss - DirectorMark Horgan - Executive VP & Chief Investment OfficerMichael Griffin - DirectorFloris van Dijkum - Managing DirectorCaitlin Burrows ...

For the quarter ended March 2025, Brixmor Property (BRX) reported revenue of $337.51 million, up 5.4% over the same period last year. EPS came in at $0.56, compared to $0.29 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $330.56 million, representing a surprise of +2.11%. The company delivered an EPS surprise of +1.82%, with the consensus EPS estimate being $0.55. View all Key Company Metrics for Brixmor here>>> Shares of Brixmor have returned -1.3% over the past m ...

Group 1 - Brixmor Property (BRX) reported quarterly funds from operations (FFO) of $0.56 per share, exceeding the Zacks Consensus Estimate of $0.55 per share, and up from $0.54 per share a year ago, representing an FFO surprise of 1.82% [1] - The company achieved revenues of $337.51 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.11%, compared to $320.24 million in the same quarter last year [2] - Brixmor has outperformed consensus FFO estimates two times over the last four quarters, indicating a positive trend in financial performance [2] Group 2 - The stock has underperformed the market, losing about 7.4% since the beginning of the year, while the S&P 500 declined by 6.1% [3] - The future performance of Brixmor's stock will largely depend on management's commentary during the earnings call and the outlook for FFO [3][4] - Current consensus FFO estimate for the upcoming quarter is $0.55 on revenues of $330.28 million, and for the current fiscal year, it is $2.22 on revenues of $1.34 billion [7] Group 3 - The Zacks Industry Rank for REIT and Equity Trust - Retail is in the top 36% of over 250 Zacks industries, suggesting a favorable outlook for the industry [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions, which can be tracked by investors [5] - Brixmor currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to_____ Commission File Number: 001-36160 (Brixmor Property Group Inc.) Commission File Number: 333-256637-01 (Brixmor Operating Partnership LP) Brixmor Property Gr ...

Financial Performance - The company reported a financial summary for the three months ended March 31, 2025, with a focus on key performance metrics[7]. - Total revenues for the three months ended March 31, 2025, increased to $337,512,000 from $320,241,000 for the same period in 2024, representing a growth of 5.3%[10]. - Net income attributable to Brixmor Property Group Inc. for the three months ended March 31, 2025, was $69,729,000, down from $88,905,000 in the prior year, a decrease of 21.6%[10]. - Nareit FFO for the three months ended March 31, 2025, was $171,107,000, an increase from $163,436,000 in the same period last year, reflecting a growth of 4.1%[10]. - The company reported a basic net income per share of $0.23 for Q1 2025, down from $0.29 in Q1 2024[17]. - The company declared dividends of $87,991 for the quarter, with a dividend payout ratio of 51.4% of Nareit FFO[22]. - The guidance for Nareit FFO per diluted share for 2025 is projected to be between $2.19 and $2.24[10]. Occupancy and Leasing - The percentage of billed Gross Leasable Area (GLA) reached Z%, indicating strong occupancy levels across the portfolio[8]. - The percentage of properties leased as of March 31, 2025, was 94.1%, down from 95.1% a year earlier[10]. - The percentage of properties leased decreased to 94.3% as of March 31, 2025, down from 95.3% in the previous year, a decline of 1.0%[30]. - Total new, renewal, and option leases for the three months ended March 31, 2025, amounted to 334 leases with a Gross Leasable Area (GLA) of 2,247,394 square feet and an average Base Rent (ABR) of $18.96 PSF[93]. - The average rent spread for renewal leases was 16.0% for the twelve months ended March 31, 2025[93]. - The lease expiration schedule indicates that 11.6% of the total portfolio GLA will expire in 2026, with an ABR PSF of $15.65[100]. Revenue and Rent Metrics - Annualized Base Rent (ABR) increased, reflecting a strong leasing environment, with a total ABR of $X million, representing a Y% increase year-over-year[8]. - Total rental income rose to $337,241,000 for the three months ended March 31, 2025, up from $319,489,000 in the prior year, marking a 5.5% increase[28]. - The Average Base Rent (ABR) is $1,008,053, with an ABR per square foot of $17.94[78]. - The average ABR per square foot for the top 40 retailers is $13.72, with notable high performers like Starbucks Corporation at $55.20 PSF[87]. - The total Annualized Base Rent (ABR) amounts to $1,008,053,000, with an ABR per square foot of $17.94[112]. Debt and Financial Management - The company remains committed to maintaining a strong balance sheet, with a Net Principal Debt to Adjusted EBITDA ratio of X, reflecting prudent financial management[8]. - Total principal debt as of March 31, 2025, was $5,118,453,000, a decrease from $5,350,765,000 as of December 31, 2024[35]. - The company's net debt stood at $4,996,684,000 as of March 31, 2025, compared to $4,961,059,000 at the end of 2024[35]. - The company has no secured debt as of March 31, 2025[44]. - The fixed charge coverage ratio is reported at 4.3x, significantly above the 1.5x threshold[47]. Market Expansion and Development - The company is actively pursuing market expansion strategies, including new developments and acquisitions, with a focus on high-demand areas[8]. - The company has identified multiple major redevelopment opportunities across various locations, including potential residential components and new anchor prototypes[71]. - The company plans to invest $X million in capital expenditures for redevelopment projects aimed at improving existing properties[8]. - The company has added 39 projects to its redevelopment pipeline during the three months ended March 31, 2025[73]. - The company is focusing on enhancing tenant mix and improving property amenities to drive higher foot traffic and rental income[138]. Projected Growth and Future Guidance - Future guidance projects an expected growth in FFO, with estimates suggesting an increase of Y% for the upcoming quarter[8]. - The company anticipates a gradual increase in ABR PSF across future lease expirations, with projections reaching $30.60 by 2032[101]. - The company plans to expand its portfolio with new developments, including properties like Village at Mira Mesa, which is set to open in 2023[115]. - The company is actively monitoring market trends to optimize property performance and tenant satisfaction[121]. Tenant and Retail Performance - The company has a diverse tenant mix, including major retailers such as Trader Joe's, Ralphs, and CVS, enhancing its revenue stability[115]. - The merchandise mix shows a diverse range of categories, with the highest being Restaurants at $174,360,000, followed by Grocery at $141,446,000[83]. - The company is actively monitoring the performance of its top retailers, which collectively represent a substantial portion of its revenue[87]. - Major tenants across the properties include well-known brands such as CVS, Planet Fitness, and Whole Foods Market, enhancing the attractiveness of the locations[138].

NEW YORK, April 28, 2025 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today its operating results for the three months ended March 31, 2025.  For the three months ended March 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $0.23 per diluted share and $0.29 per diluted share, respectively.Key highlights for the three months ended March 31, 2025 include: Executed 1.3 million square feet of new and renewal leases, with rent spreads ...