earnings
confidence high
sentiment positive
materiality 0.75
Brixmor Q2 NAREIT FFO $0.46, raises FY2021 guidance; same property NOI up 13.9%
Brixmor Property Group Inc.
2021-Q2 EPS reported
$0.48
revenue$566,770,000
- Q2 net income $90.4M ($0.30 diluted) vs $9.0M ($0.03) YoY; NAREIT FFO $0.46 vs $0.32.
- Record new lease ABR $19.48/sq ft; total leased occupancy 91.1%, up sequentially.
- Raised 2021 NAREIT FFO guidance to $1.70-$1.76 (from $1.60-$1.70); same property NOI growth 4.5%-6.0%.
- Acquired $64M of centers; disposed $69.4M; reinvestment pipeline $432.9M at 9% yield.
- Declared Q3 dividend $0.215/share, payable Oct 15; rent collections improved to 96.5%.