Brixmor Property (BRX)
NYSE:BRX
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Brixmor Property
(NYSE:BRX)
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Rating:73Outperform
Price Target:
$31.00
▲(5.55% Upside)
Action:ReiteratedDate:02/10/26
The score is driven primarily by solid financial performance (strong profitability and cash generation despite leverage constraints) and supportive technical momentum (price above key moving averages). Earnings call updates add confidence via positive 2026 NOI/FFO guidance and leasing strength, while valuation is moderated by a relatively high P/E despite an attractive dividend yield.
Positive Factors
Cash generation / Free Cash Flow
Brixmor has produced consistently positive free cash flow with operating cash flow rising through 2025 and FCF tracking net income. Durable cash generation supports dividend sustainability, funds maintenance and redevelopment, and provides flexibility for capital recycling and opportunistic acquisitions over the next several quarters.
Negative Factors
Leverage / balance-sheet confidence
Historically elevated leverage constrains flexibility in a rate-sensitive REIT sector and limits optionality for large opportunistic investments. The anomalous 2025 debt reporting undermines transparency, increasing near-term risk assessment complexity and potentially raising funding costs if markets perceive weaker disclosure.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation / Free Cash Flow
Brixmor has produced consistently positive free cash flow with operating cash flow rising through 2025 and FCF tracking net income. Durable cash generation supports dividend sustainability, funds maintenance and redevelopment, and provides flexibility for capital recycling and opportunistic acquisitions over the next several quarters.
Read all positive factors
Brixmor Property (BRX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$9.01B
Dividend Yield4.41%
Average Volume (3M)2.74M
Price to Earnings (P/E)20.9
Beta (1Y)0.59
Revenue Growth6.07%
EPS Growth-0.28%
CountryUS
Employees453
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)0.44
Shares Outstanding306,836,270
10 Day Avg. Volume2,112,405
30 Day Avg. Volume2,739,275
Financial Highlights & Ratios
PEG Ratio1.67
Price to Book (P/B)2.68
Price to Sales (P/S)5.87
P/FCF Ratio12.35
Enterprise Value/Market Cap1.61
Enterprise Value/Revenue10.59
Enterprise Value/Gross Profit14.09
Enterprise Value/Ebitda14.11
Forecast
1Y Price Target
$32.48Price Target Upside10.59% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)1.03
Revenue Forecast (FY)$1.43B
Brixmor Property Business Overview & Revenue Model
Company Description
Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 395 retail centers comprise approximately 69 million square feet of prime retail space in esta...
How the Company Makes Money
Brixmor generates revenue primarily through leasing retail space within its shopping centers to a variety of tenants, including national, regional, and local retailers. The company collects rental income, which constitutes the bulk of its revenue ...
Brixmor Property Earnings Call Summary
Earnings Call Date:Feb 09, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 27, 2026
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.Positive Updates
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.
Negative Updates
Anchor Recaptures and Tenant Disruption
Recaptured approximately 1.5 million square feet of anchor space in 2025; tenant disruption created an estimated headwind of over 200 basis points to same property NOI for the year, requiring active re-leasing and redevelopment to realize upside.
Read all updates
Q4-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
Management guided 2026 same‑property NOI growth of 4.5%–5.5%, driven by more than 450 basis points of base rent contribution (from stacking 2025 commencements and redevelopments), plus net expense reimbursements as average billed occupancy rises, and they expect revenues deemed uncollectible (bad debt) of 75–100 bps of total revenues; NAREIT FFO guidance is $2.33–$2.37 per share (≈4.4% growth at the midpoint) while absorbing a return‑to‑historical lower lease‑termination income level and a $0.03 per‑share interest‑expense headwind. Visibility into the year includes a $62M signed‑but‑not‑commenced pipeline (avg $23/sqft, $50M net new rent, 350 bps lease/build spread) with roughly $43M expected to commence ratably in 2026, and management reiterated efficient capital deployment metrics such as record net effective rent of $23.66 and a two‑year payback amid a 5.4x net debt/EBITDA balance‑sheet position.Brixmor Property Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
58
Neutral
Cash Flow
77
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.37B | 1.29B | 1.25B | 1.22B | 1.15B |
| Gross Profit | 1.03B | 967.94M | 925.05M | 906.28M | 854.49M |
| EBITDA | 1.03B | 936.67M | 858.10M | 891.35M | 792.12M |
| Net Income | 386.23M | 339.27M | 305.09M | 354.19M | 270.19M |
Balance Sheet | |||||
| Total Assets | 9.13B | 8.91B | 8.33B | 8.44B | 8.38B |
| Cash, Cash Equivalents and Short-Term Investments | 361.53M | 397.92M | 20.78M | 16.49M | 296.63M |
| Total Debt | 5.87B | 5.34B | 4.93B | 5.08B | 5.21B |
| Total Liabilities | 6.12B | 5.92B | 5.48B | 5.57B | 5.66B |
| Stockholders Equity | 3.01B | 2.98B | 2.85B | 2.87B | 2.72B |
Cash Flow | |||||
| Free Cash Flow | 652.01M | 624.69M | 588.79M | 566.38M | 552.24M |
| Operating Cash Flow | 652.01M | 624.69M | 588.79M | 566.38M | 552.24M |
| Investing Cash Flow | -452.23M | -437.02M | -163.08M | -462.45M | -331.00M |
| Financing Cash Flow | -216.94M | 172.12M | -428.07M | -380.41M | -293.58M |
Brixmor Property Technical Analysis
Positive
29.37
Price Trends
28.64
Positive
27.07
Positive
26.51
Positive
Market Momentum
-0.03
Positive
58.00
Neutral
70.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRX, the sentiment is Positive. The current price of 29.37 is above the 20-day moving average (MA) of 28.90, above the 50-day MA of 28.64, and above the 200-day MA of 26.51, indicating a bullish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 58.00 is Neutral, neither overbought nor oversold. The STOCH value of 70.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BRX.
Brixmor Property Risk Analysis
Brixmor Property disclosed 32 risk factors in its most recent earnings report. Brixmor Property reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Brixmor Property Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $8.27B | 19.50 | 8.88% | 6.04% | 4.53% | -3.46% | |
79 Outperform | $9.21B | 39.03 | 3.49% | 4.28% | 14.67% | -5.17% | |
73 Outperform | $9.01B | 20.85 | 13.01% | 4.41% | 6.07% | -0.28% | |
72 Outperform | $9.32B | 21.05 | 12.74% | 4.38% | 6.05% | 14.70% | |
71 Outperform | $5.27B | 23.40 | 4.86% | 3.52% | 10.58% | 37.97% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
60 Neutral | $5.20B | 7.10 | 9.31% | 4.55% | 3.67% | ― |
* Real Estate Sector Average
BRX
Brixmor Property
29.37
5.66
23.85%
ADC
Agree Realty
76.76
6.85
9.80%
NNN
NNN REIT
43.55
6.53
17.64%
KRG
Kite Realty Group
25.14
5.38
27.25%
FRT
Federal Realty
107.39
20.97
24.27%
PECO
Phillips Edison & Company
38.05
4.36
12.94%
Brixmor Property Corporate Events
Executive/Board Changes
Brixmor Property Announces CEO Retirement and Successor
Neutral
Nov 24, 2025
On November 24, 2025, Brixmor Property Group announced that its CEO, James M. Taylor Jr., will retire at the end of the year, with Brian T. Finnegan, the current President and COO, set to succeed him on January 1, 2026. This leadership transition ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.