Brixmor Property Group Q3 FFO rises, dividend up 7.3%

Overview

• US shopping center REIT's Q3 Nareit FFO per share rose yr/yr

• Company's same property NOI rose 6.6% yr/yr on higher base rent

• Company raised quarterly dividend by 7.3%

Outlook

• Brixmor raises 2026 Nareit FFO outlook to $2.36-$2.38 per diluted share

• Company now expects 2026 same property NOI growth of 5.50%-5.75%

• Revenues deemed uncollectible expected at 60-85 basis points of 2026 revenues

Result Drivers

• LEASING MOMENTUM - Co said strong leasing activity and higher rent spreads drove occupancy to record highs

• BASE RENT GROWTH - Higher base rent contributed significantly to same property NOI increase

• REINVESTMENT PROJECTS - Completion and addition of reinvestment projects contributed to NOI growth

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for Brixmor Property Group Inc is $33.00, about 17.3% above its October 23 closing price of $28.13

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 27 three months ago

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)