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Brixmor Property Group (BRX)
NYSE:BRX
Earnings Data
Report Date
Apr 27, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.25Last Year’s EPS
0.23Same Quarter Last Year
Strong Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The calling highlighted broad operational momentum: strong leasing volume, record small-shop occupancy, robust rent growth (39% new-lease, 15% renewal), improved tenant quality, disciplined capital deployment (CapEx down 14%), attractive redevelopment yields (10%), and solid balance sheet liquidity ($1.6B). Offsetting items include one-time/Q4-driven lease termination income and non-cash items tied to bankruptcies, recapture of 1.5M sq ft of anchors (creating ~200 bps headwind), and a modest interest expense headwind (~$0.03 per share) embedded in 2026 guidance. On balance, the positive operating fundamentals and pipeline visibility materially outweigh the transitory and execution-related headwinds.Company Guidance
Leadership Transition and Strategic Continuity
Brian Finnegan named permanent CEO after 21 years at the company; internal promotions (Stacy Slater, Matt Ryan) and continued three-region operating model preserve continuity while emphasizing technology, analytics, and disciplined capital allocation.
Same Property NOI Growth
Same property NOI grew 4.2% for the full year and increased 6.0% in Q4, driven by base rent stacking (360 bps contribution) and ancillary/other income (200 bps contribution in Q4).
FFO Performance and 2026 Guidance
NAREIT FFO per share for 2025 was $2.25, up 5.6% year-over-year and at the high end of guidance; 2026 NAREIT FFO guidance introduced at $2.33–$2.37 per share (midpoint ≈ +4.4% growth).
Record Leasing and Occupancy Gains
Delivered a record $70 million of new ABR commenced in 2025 and executed an additional $70 million of net rent; small shop occupancy reached a new high of 92.2%; overall occupancy increased 100 basis points sequentially to 95.1%.
Strong Rent Growth Metrics
New-lease rent growth for the year was 39%; renewal rent growth was 15% (third consecutive year of mid-teens renewal growth); retention rate improved to 87%, up 180 basis points year-over-year.
Robust Redevelopment & Pipeline Economics
Stabilized $183 million of redevelopment projects in 2025 at an attractive 10% incremental yield; active pipeline totaled $336 million at year-end; signed-but-not-commenced pipeline was $62 million (avg. $23/sqft) including $50 million net new rent, with ~$43 million expected to commence throughout 2026.
Capital Efficiency and Lower CapEx
Overall CapEx spending down 14% year-over-year (lowest since 2021); maintenance CapEx at lowest level since 2016 (excluding pandemic); leasing and maintenance CapEx down ~$26 million YoY; payback period averaged two years and net effective rent reached a record $23.66.
Transaction Activity and Capital Recycling
Acquired ~ $420 million of asset value in 2025 (Houston, Southern California, Denver) and completed $170 million of dispositions in Q4 to recycle capital into higher-return opportunities; management highlights ability to buy assets with higher IRRs while selling lower-growth assets at improved cap rates.
Balance Sheet Strength and Liquidity
Available liquidity of $1.6 billion, including $360 million of cash from a September 2025 issuance; debt-to-EBITDA ~5.4x and management comfortable in mid-5x range; dividend yield ~4.4% with dividend CAGR of ~6% since 2022.
Improved Tenant Quality and Demand
Tenant base improved meaningfully: 70% of small shop rent derived from multi-unit operators; signed eight new grocer leases (Publix, Sprouts, Big Y); management expects revenues deemed uncollectible to be 75–100 basis points of total revenues for 2026 (top end down from prior range).
Technology & Operational Improvements
Early AI and automation initiatives (lease abstraction, tenant health analysis, leasing prospecting) are producing efficiency gains and improved leasing/legal workflows.
BRX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BRX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 09, 2026 | $28.14 | $28.83 | +2.45% |
Oct 27, 2025 | $27.82 | $26.67 | -4.12% |
Jul 28, 2025 | $24.97 | $25.76 | +3.17% |
Apr 28, 2025 | $25.15 | $24.09 | -4.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Brixmor Property Group (BRX) report earnings?
Brixmor Property Group (BRX) is schdueled to report earning on Apr 27, 2026, After Close (Confirmed).
What is Brixmor Property Group (BRX) earnings time?
Brixmor Property Group (BRX) earnings time is at Apr 27, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BRX EPS forecast?
BRX EPS forecast for the fiscal quarter 2026 (Q1) is 0.25.