#USA #New York #Brixmor Property #NYSE BRX #third quarter 2025

Brixmor Property Group Reports Strong Q3 2025 Results

Brixmor Property Group Inc. (NYSE: BRX) recently released its third-quarter results for 2025, showcasing a strong performance despite ongoing market challenges. The company, which specializes in owning and operating open-air shopping centers, reported significant developments in its financial results for the three months ending September 30, 2025.

Financial Highlights

For the third quarter of 2025, Brixmor reported a net income attributable to the company of $94.2 million, or $0.31 per diluted share. This was slightly lower compared to $96.8 million, or $0.32, during the same period in 2024. However, the nine-month figures indicate a total net income of $249.1 million for 2025, down from $255.9 million in 2024, yielding a respective $0.81 and $0.84 per diluted share.

Brixmor also reported a notable rise in its Nareit FFO (Funds From Operations), which amounted to $172.3 million, translating to $0.56 per diluted share for the recent quarter. This was an increase from $159.2 million, or $0.52, in Q3 2024. Over the nine months, the Nareit FFO reached $514.9 million, with a per share result of $1.67, up from $486.4 million, or $1.60, in the prior year.

Leasing Activity

One of the standout achievements for Brixmor in Q3 was the execution of 1.5 million square feet of new and renewal leases, marking a 17.8% increase in rent spreads on comparable space. This included 0.6 million square feet of newly leased space, demonstrating an impressive 30.5% rent spread for comparable spaces.

The company achieved total leased occupancy of 94.1%, with anchor leased occupancy reaching 95.4% and small shop leased occupancy achieving a record high of 91.4%. This reflects Brixmor's commitment to maintaining high occupancy levels and maximizing rental income in its portfolio.

Dividend Increase

In a move to reward its shareholders, Brixmor announced a 7% increase in its quarterly dividend, raising it to $0.3075 per common share, effective for payment on January 15, 2026, to stockholders of record as of January 5, 2026. This increase suggests confidence in the company's ongoing operational performance and growth strategy.

Real Estate Investments

Brixmor also highlighted $22.0 million of annualized base rent from newly commenced leases, with an additional 2.7 million square feet in the pipeline representing $60.5 million in annualized base rent. The company stabilized several reinvestment projects averaging an incremental NOI yield of 11%, while its in-process reinvestment pipeline totals approximately $375.3 million at an expected average incremental NOI yield of 9%.

During Q3, Brixmor completed $223.0 million in acquisitions, bolstering its portfolio with high-quality properties and generating approximately $81.2 million from the disposition of seven shopping centers. These efforts position the company for future growth and stability as it navigates the competitive retail landscape.

Leadership Updates

Following the announcement of CEO James M. Taylor taking a temporary medical leave, President and COO Brian T. Finnegan has stepped into the role of interim CEO. Finnegan's leadership will be pivotal as Brixmor continues its strategic growth initiatives and prepares for the coming quarters.

Future Outlook

Looking ahead, Brixmor reaffirms its guidance for Nareit FFO per diluted share expected to be in the range of $2.23 to $2.25, alongside same-property NOI growth expectations of 3.90% to 4.30% for the year. As momentum builds on leasing activity and reinvestment projects, Brixmor remains well-positioned for long-term sustainable growth.

As the retail space evolves, Brixmor’s dedication to maintaining high occupancy rates, financial performance, and attractive shareholder returns solidifies its standing in the real estate investment trust sector. For more details, you can follow Brixmor on LinkedIn and visit their official website for the latest updates.

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In conclusion, Brixmor's third-quarter results indicate robust performance amidst market uncertainties, showcasing its strategic focus on leasing, portfolio enhancement, and value creation for shareholders. Investors will be watching closely as the company drives toward its financial targets for the remainder of 2025.