earnings
confidence high
sentiment positive
materiality 0.75
Brixmor Q1 FFO $0.49, same-property NOI +8.4%; raises 2022 guidance
Brixmor Property Group Inc.
2022-Q1 EPS reported
$0.26
revenue$298,629,000
- Q1 net income $79.5M ($0.26/diluted) vs $52.4M ($0.18) a year earlier.
- Nareit FFO $0.49/diluted ($145.4M) vs $0.44 ($130.5M); FY22 FFO guidance raised to $1.88-$1.95.
- Same-property NOI grew 8.4% YoY; total leased occupancy 92.1%, new lease rent spreads +35.9%.
- Completed $159.5M Q1 acquisitions and $60.9M dispositions; subsequent $168.6M acquisitions after quarter-end.
- Amended credit facility: $1.75B capacity, extended maturities, lower pricing; Fitch upgraded to BBB.