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Brixmor Property Group (BRX) investor relations material
Brixmor Property Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Operates 354 open-air shopping centers totaling 63 million sq. ft., with 82% of ABR from grocery-anchored centers and a focus on value-oriented, non-discretionary retail.
Achieved record leasing results with 1.5 million sq. ft. of new and renewal leases at an 18% blended cash spread in Q3 2025.
Small shop occupancy reached a record 91.4%, with further upside expected from the reinvestment pipeline.
Portfolio transformation since 2015 led to a 45% increase in in-place ABR PSF and improved occupancy rates.
Focuses on maximizing shareholder returns through internal growth, reinvestment, acquisitions, and prudent capital management.
Financial highlights
Q3 2025 revenues were $340.8 million, up from $320.7 million in Q3 2024; Nareit FFO was $172.3 million ($0.56 per share), up from $159.2 million ($0.52 per share) year-over-year.
Same property NOI for Q3 2025 was $229.1 million, up from $220.3 million in Q3 2024, with 4% year-over-year growth.
In-place ABR PSF reached $18.48, with new lease ABR PSF at $25.85 and small shop in-place ABR PSF at $29.16, all record highs as of Q3 2025.
Commenced a record $22 million of new ABR in the quarter; signed but not yet commenced rent pipeline totals $60 million.
Dividend increased by 7% to $0.3075 per share for Q4 2025, with an annualized yield of 4.4%.
Outlook and guidance
Updated 2025 Nareit FFO per diluted share guidance to $2.23–$2.25; affirmed same property NOI growth expectations of 3.9%–4.3%.
79% of signed but not commenced ABR expected to commence by year-end 2026.
Lease settlement income expected to be a headwind for 2026 FFO, but strong tailwinds from 2025 rent commencements and reduced at-risk tenancy.
Management anticipates adequate capital for all anticipated uses over the next 12 months, including debt payments, capital improvements, and dividends.
Base rent growth expected to accelerate into 2026 as billed occupancy rebounds.
- TimeTickerHeadlineOpen
- 6 FebPECO
2026 FFO per share growth guided at 5.5% with record occupancy and robust acquisitions. - 6 FebCRI
Q1 2025 saw record revenue, a return to profit, and major new contracts in space technology. - 6 FebCRI
Net loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high. - 6 FebCRI
Net loss deepened on lower sales and higher costs, but major new contracts and restructuring are underway. - 6 FebEMBASSY
Record revenue, NOI, and distributions highlight strong growth and robust segment performance. - 6 FebCRI
Revenue fell and losses deepened, but ESA contracts and R&D projects drive future prospects. - 6 FebNVDA
AI-driven digital twins and real-time simulation will transform engineering and manufacturing. - 6 FebTUPRS
Net income reached TRY 29.5 billion, with strong dividends and a robust net cash position. - 6 FebCPT
2025 results beat guidance; Sun Belt focus, asset sales, and share buybacks drive 2026 strategy. - 6 FebCRI
H1 2025 saw a return to profit, record revenues, and strong cash from major space projects.
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