Monday 7th of February 2022 01:30:29 PM

Brixmor Property Q4 results helped by strong leasing volumes, rent spreads

Text REIT made of wood cubes on white textured putty background. Abbreviation from "Real estate investment trust". Business concept. Square wood blocks. Top view, flat lay. Victoriia Kovryha/iStock via Getty Images
  • Brixmor Property (NYSE:BRX) fourth-quarter results highlight strong leasing volumes and rent spreads.
  • The company anticipated funds from operations of $1.86-1.95 per diluted in 2022 vs. FFO per share of $1.62 on a trailing twelve month basis. Expected net operating income growth of 2.0%-4.0 this year.
  • Meanwhile, same property net operating income margin of 71.5% in Q4 ticked lower from 71.8% in Q4 a year ago.
  • Q4 revenues of $295.32M topped the $285.40M consensus and jumped from $269.41M in the year-ago period.
  • Q4 operating expenses of $189.8M also edged higher from $184.53M in Q4 2020.
  • Q4 EPS of $0.46 matched the estimate and grew from $0.33 in the same period last year.
  • Q4 gain on sale of real estate assets were $23.60M, up from just $11.3M in the year-ago period.
  • Conference call starts on Feb. 8 at 10:00 a.m. ET.
  • Previously, (Jan. 3) Brixmor Property declared a $0.24 per share dividend.


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