Brixmor Q2 FFO $0.54/sh beats; record leasing; raises 2024 guidance

Brixmor Property Group Inc.

2024-Q2 EPS reported $0.52 revenue$635,930,000

Net income $0.23/sh vs $0.19; Nareit FFO $0.54/sh vs $0.52; same property NOI up 5.5%.
Record leased occupancy 95.4%; rent spreads on comparable space 27.7% (new leases 50.2%).
Raised 2024 FFO guidance to $2.11-$2.14 from $2.08-$2.11; NOI growth guidance to 4.25%-5.00%.
Announced executive promotions: Finnegan to President COO, Gallagher to EVP CFO, Stein to EVP CIO, Brydzinski to SVP CAO.
Issued $400M 5.75% senior notes due 2035; acquired two shopping centers for $40.9M total.

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