Brixmor Property Group ( (BRX) ) has released its Q1 earnings. Here is a breakdown of the information Brixmor Property Group presented to its investors.
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Brixmor Property Group is a real estate investment trust (REIT) that owns and operates a national portfolio of open-air shopping centers, with a focus on providing prime retail spaces for a diverse mix of retailers. In its first quarter of 2025, Brixmor reported a net income of $0.23 per diluted share, a decrease from $0.29 per diluted share in the same period of 2024. The company executed 1.3 million square feet of new and renewal leases, achieving a total leased occupancy of 94.1%. Additionally, Brixmor reported an increase in same property net operating income (NOI) of 2.8% and a Nareit FFO of $171.1 million, or $0.56 per diluted share. The company also stabilized $27.5 million of reinvestment projects with an average incremental NOI yield of 11%. Brixmor’s strategic activities included issuing $400 million of senior notes and amending its unsecured credit facilities to extend maturities and lower pricing. Looking ahead, Brixmor’s management remains optimistic about its forward leasing and reinvestment pipelines, expecting continued strong performance despite potential market disruptions.