Brixmor Q2 revenue slightly beats estimates, raises 2026 outlook

Overview

• U.S. shopping center REIT's Q2 revenue slightly beat analyst expectations

• Company raised 2026 outlook for Nareit FFO per share and same property NOI growth

Outlook

• Brixmor raises 2026 Nareit FFO per diluted share outlook to $2.35-$2.37 from $2.34-$2.37

• Company lifts 2026 same property NOI growth forecast to 5.00%-5.75% from 4.75%-5.50%

• Revenues deemed uncollectible expected at 60-85 basis points of total expected revenues in 2026

Result Drivers

• LEASING MOMENTUM - Record small shop occupancy and record signed but not yet commenced rent pipeline supported results, per CEO Brian T. Finnegan

• BASE RENT GROWTH - Same property NOI rose 5.8% yr/yr, driven mainly by base rent increases

• REINVESTMENT AND ACQUISITIONS - Recent reinvestment projects and shopping center acquisitions contributed to portfolio growth

Company press release: ID:nPnbMLsrTa

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for Brixmor Property Group Inc is $34.00, about 4.8% above its July 24 closing price of $32.44

• The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 28 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)