Brixmor Property Group Inc (BRX)

BRIXMOR PROPERTY GROUP ANNOUNCES SECOND QUARTER 2026 EARNINGS RELEASE AND TELECONFERENCE DATESJune 8, 2026 4:02 PM
PR Newswire (US) NEW YORK, June 8, 2026 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) today announced that it will release its 2026 second quarter earnings on Monday, July 27, 2026 after the market close. Brixmor will host a teleconference on Tuesday, July 28, 2026 at 10:00 AM ET.Event: Brixmor Property Group's Second Quarter Earnings ResultsWhen: 10:00 AM ET, Tuesday, July 28, 2026Live Webcast: Brixmor 2Q 2026 Earnings Call under the Investors tab at https://www.brixmor.com Dial #: 1.877.704.4453 (International: 1.201.389.0920)A replay of the webcast will be available on the Brixmor website at https://www.brixmor.com. A replay of the call can be accessed until midnight ET on Tuesday, August 11, 2026 by dialing 1.844.512.2921 (International: 1.412.317.6671); Passcode: 13760501.Connect With BrixmorFor additional information, please visit https://www.brixmor.com;Follow Brixmor on:LinkedIn at https://www.linkedin.com/company/brixmorFacebook at https://www.facebook.com/BrixmorInstagram at https://www.instagram.com/brixmorpropertygroupYouTube at https://www.youtube.com/user/BrixmorABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) owns and operates a high-quality, national portfolio of open-air shopping centers. The Company's 344 retail centers comprise approximately 62 million square feet of prime retail space in established trade areas. Brixmor's properties reflect its vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.SAFE HARBOR LANGUAGE
The presentation referenced in this release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) risks related to cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation and in our periodic filings. The forward-looking statements speak only as of the date of this presentation, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/brixmor-property-group-announces-second-quarter-2026-earnings-release-and-teleconference-dates-302794307.htmlSOURCE Brixmor Property Group Inc. Original: BRIXMOR PROPERTY GROUP ANNOUNCES SECOND QUARTER 2026 EARNINGS RELEASE AND TELECONFERENCE DATES

BRIXMOR PROPERTY GROUP TO HOST ICSC 2026 DOWNLOAD WEBINARMay 15, 2026 4:04 PM
PR Newswire (US) NEW YORK, May 15, 2026 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) today announced that the Company will host an interactive panel with management, analysts, and investors following ICSC 2026 Las Vegas on Wednesday, May 27, 2026 from 10:00 AM ET to 11:00 AM ET. To attend this webinar, please register in advance at: https://brixmor.zoom.us/webinar/register/WN_p6w36_G1RpmqFPrCwlg8iQ. A replay of the webinar will be available on the Brixmor website at https://www.brixmor.com. CONNECT WITH BRIXMORFor additional information, please visit https://www.brixmor.com; Follow Brixmor on:LinkedIn at https://www.linkedin.com/company/brixmor Facebook at https://www.facebook.com/Brixmor Instagram at https://www.instagram.com/brixmorpropertygroup; andYouTube at https://www.youtube.com/user/Brixmor. ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) owns and operates a high-quality, national portfolio of open-air shopping centers. The Company's 344 retail centers comprise approximately 62 million square feet of prime retail space in established trade areas. Brixmor's properties reflect its vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.SAFE HARBOR LANGUAGE
The presentation referenced in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) risks related to cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/brixmor-property-group-to-host-icsc-2026-download-webinar-302773678.htmlSOURCE Brixmor Property Group Inc. Original: BRIXMOR PROPERTY GROUP TO HOST ICSC 2026 DOWNLOAD WEBINAR

BRIXMOR PROPERTY GROUP PRICES OFFERING OF SENIOR NOTESApril 30, 2026 4:49 PM
PR Newswire (US)

NEW YORK, April 30, 2026 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today that its operating partnership, Brixmor Operating Partnership LP (the "Operating Partnership"), priced an offering of $400 million aggregate principal amount of 5.375% Senior Notes due 2036 (the "Notes"). The Notes will be issued at 99.628% of par value with a coupon of 5.375%. Interest on the Notes is payable semi-annually on June 15 and December 15 of each year, beginning December 15, 2026. The Notes will mature on June 15, 2036. The offering is expected to close on May 5, 2026, subject to the satisfaction of customary closing conditions.The Operating Partnership intends to use the net proceeds from this offering for general corporate purposes, which may include repayment of outstanding indebtedness, including some or all of the outstanding 4.125% Senior Notes due 2026. J.P. Morgan Securities LLC, PNC Capital Markets LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC are acting as joint book-running managers for the offering.The Operating Partnership has filed an effective registration statement (including a prospectus supplement and accompanying base prospectus) with the Securities and Exchange Commission (the "SEC") relating to the offering to which this communication relates. Before making an investment in the Notes, potential investors should read the prospectus supplement, the accompanying prospectus and the other documents that the Company and the Operating Partnership have filed with the SEC for more complete information about us and the offering. Potential investors may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies may be obtained from: J.P. Morgan Securities LLC by calling 1-212-834-4533, PNC Capital Markets LLC by calling 1-855-881-0697, Scotia Capital (USA) Inc. by calling 1-800-372-3930 and TD Securities (USA) LLC by calling 1-855-495-9846.This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of the Notes will be made only by means of a prospectus supplement relating to the offering of the Notes and the accompanying prospectus.ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) owns and operates a high-quality, national portfolio of open-air shopping centers. The Company's 344 retail centers comprise approximately 62 million square feet of prime retail space in established trade areas. Brixmor's properties reflect its vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international geopolitical conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our portfolio; (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.





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Original: BRIXMOR PROPERTY GROUP PRICES OFFERING OF SENIOR NOTES

BRIXMOR PROPERTY GROUP INCREASES 2026 OUTLOOK DRIVEN BY STRONG FIRST QUARTER OPERATING RESULTS AND ACCELERATING BUSINESS MOMENTUMApril 27, 2026 4:04 PM
PR Newswire (US)

NEW YORK, April 27, 2026 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today its operating results for the three months ended March 31, 2026.  For the three months ended March 31, 2026 and 2025, net income attributable to Brixmor Property Group Inc. was $0.41 per diluted share and $0.23 per diluted share, respectively.Key highlights for the three months ended March 31, 2026 include:Executed 1.3 million square feet of new and renewal leases, with rent spreads on comparable space of 27.0%, including new lease rent spreads on comparable space of 41.8% and record renewal lease rent spreads on comparable space of 21.3% Realized total leased occupancy of 95.1%, anchor leased occupancy of 96.5%, and small shop leased occupancy of  92.1%Commenced $12.0 million of annualized base rentLeased to billed occupancy spread totaled 370 basis pointsTotal signed but not yet commenced new lease population represented 2.8 million square feet and $66.7 million of annualized base rentReported an increase in same property NOI of 6.4%, including a contribution from base rent of 410 basis pointsReported Nareit FFO of $179.6 million, or $0.58 per diluted shareStabilized $77.8 million of reinvestment projects at an average incremental NOI yield of 9%, with the in process reinvestment pipeline totaling $302.4 million at an expected average incremental NOI yield of 10%Completed $107.9 million of dispositionsExecuted forward sale contracts to issue 3.9 million shares under the Company's at-the-market ("ATM") equity offering program at a weighted-average offering price of $29.85 per share and anticipated proceeds of $116.0 million, before commissions and feesSubsequent events:Completed $11.3 million of dispositionsUpdated previously provided Nareit FFO per diluted share expectations for 2026 to $2.34 - $2.37 from $2.33 - $2.37 and same property NOI growth expectations for 2026 to 4.75% - 5.50% from 4.50% - 5.50%"The Brixmor team is off to a strong start to 2026 as demonstrated by sustained leasing demand, record renewal spreads, and continued execution of our accretive reinvestment plan during the first quarter," commented Brian T. Finnegan, Chief Executive Officer and President. "Our increased 2026 outlook reflects the strength of our platform, the durability of our underlying cash flows, and the unparalleled visibility on growth in what continues to be a positive environment for grocery-anchored open-air shopping centers."FINANCIAL HIGHLIGHTSThe following table summarizes the Company's net income attributable to Brixmor Property Group Inc. and Nareit FFO:(Unaudited, dollars in millions, except per share amounts)
Three Months Ended

3/31/2026
3/31/2025Net income attributable to Brixmor Property Group Inc.
$127.8
$69.7Net income attributable to Brixmor Property Group Inc. per diluted
share
$0.41
$0.23




Nareit FFO
$179.6
$171.1Nareit FFO per diluted share
$0.58
$0.56Same Property NOI Performance For the three months ended March 31, 2026, the Company reported an increase in same property NOI of 6.4% versus the comparable 2025 period.DividendThe Company's Board of Directors declared a quarterly cash dividend of $0.3075 per common share (equivalent to $1.23 per annum). The dividend is payable on July 15, 2026 to stockholders of record on July 2, 2026.PORTFOLIO AND INVESTMENT ACTIVITY
Value Enhancing Reinvestment OpportunitiesDuring the three months ended March 31, 2026, the Company stabilized four value enhancing reinvestment projects with a total aggregate net cost of approximately $77.8 million at an average incremental NOI yield of 9% and added ten new reinvestment projects to its in process pipeline with a total aggregate net estimated cost of approximately $43.7 million at an expected average incremental NOI yield of 10%.The following table summarizes the Company's in process reinvestment pipeline as of March 31, 2026:(Dollars in millions)
Number of Projects
Net Estimated Costs
Expected NOI YieldAnchor space repositioning
15
$77.0
7% - 14%Outparcel development
12
21.5
12 %Redevelopment
12
203.9
11 %    Total
39
$302.4
10 %An in-depth review of a redevelopment project which highlights the Company's reinvestment capabilities, The Davis Collection (Sacramento-Roseville-Folsom, CA CBSA), can be found at this link: https://www.brixmor.com/blog/davis-community-retailers-city. Follow Brixmor on LinkedIn for video updates on reinvestment projects at https://www.linkedin.com/company/brixmor. AcquisitionsDuring the three months ended March 31, 2026, the Company did not complete any acquisitions.Dispositions During the three months ended March 31, 2026, the Company generated $107.9 million of gross proceeds on the disposition of four shopping centers.Subsequent to March 31, 2026, the Company generated approximately $11.3 million of gross proceeds on the disposition of one shopping center.CAPITAL STRUCTURE During the three months ended March 31, 2026, the Company executed forward sale contracts under its ATM equity offering program  through which it is expected to issue 3.9 million shares of common stock at a weighted-average offering price per share of $29.85, before commissions and fees. Anticipated proceeds from the forward sale contracts are approximately $116.0 million, before commissions and fees, and are expected to be used for general corporate purposes.At March 31, 2026, the Company had $1.8 billion in liquidity.At March 31, 2026, the Company's net principal debt to adjusted EBITDA, current quarter annualized was 5.3x and net principal debt to adjusted EBITDA, trailing twelve months was 5.4x.GUIDANCEThe Company has updated its previously provided Nareit FFO per diluted share expectations for 2026 to $2.34 - $2.37 from $2.33 - $2.37 and  its same property NOI growth expectations for 2026 to 4.75% - 5.50% from 4.50% - 5.50%.Revenues deemed uncollectible is expected to total 75 - 100 basis points of total expected revenues in 2026.2026 expectations do not include any additional items that impact FFO comparability, which include gain or loss on extinguishment of debt, net and transaction expenses, net, or any other one-time items.The following table provides a reconciliation of the range of the Company's 2026 estimated net income attributable to Brixmor Property Group Inc. to Nareit FFO: (Unaudited, dollars in millions, except per share amounts)
2026E
2026E Per
Diluted ShareNet income attributable to Brixmor Property Group Inc.
$355 - $365
$1.16  - $1.19 Depreciation and amortization related to real estate
417
1.35Gain on sale of real estate assets
(52)
(0.17)    Nareit FFO
$720 - $730
$2.34 - $2.37CONNECT WITH BRIXMORFor additional information, please visit https://www.brixmor.com; Follow Brixmor on:LinkedIn at https://www.linkedin.com/company/brixmor Facebook at https://www.facebook.com/Brixmor Instagram at https://www.instagram.com/brixmorpropertygroup; andYouTube at https://www.youtube.com/user/Brixmor. CONFERENCE CALL AND SUPPLEMENTAL INFORMATION
The Company will host a teleconference on Tuesday, April 28, 2026 at 10:00 AM ET. To participate, please dial 877.704.4453 (domestic) or 201.389.0920 (international) within 15 minutes of the scheduled start of the call. The teleconference can also be accessed via a live webcast at  https://www.brixmor.com in the Investors section. A replay of the teleconference will be available through May 12, 2026 by dialing 844.512.2921 (domestic) or 412.317.6671 (international) (Passcode: 13758788) or via the web through April 28, 2027 at https://www.brixmor.com in the Investors section.The Company's Supplemental Disclosure will be posted at https://www.brixmor.com in the Investors section. These materials are also available to all interested parties upon request to the Company at investorrelations@brixmor.com or 800.468.7526.NON-GAAP PERFORMANCE MEASURES
The Company presents the non-GAAP performance measures set forth below.  These measures should not be considered as alternatives to, or more meaningful than, net income (calculated in accordance with GAAP) or other GAAP financial measures, as an indicator of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (calculated in accordance with GAAP) as a measure of liquidity.  Non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental financial results to those calculated in accordance with GAAP.  The Company's computation of these non-GAAP performance measures may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from these non-GAAP performance measures are relevant to understanding and addressing financial performance. A reconciliation of net income to these non-GAAP performance measures is presented in the attached tables.Nareit FFO           
Nareit FFO is a supplemental, non-GAAP performance measure utilized to evaluate the operating and financial performance of real estate companies. Nareit defines FFO as net income (calculated in accordance with GAAP) excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis. Considering the nature of its business as a real estate owner and operator, the Company believes that Nareit FFO is useful to investors in measuring its operating and financial performance because the definition excludes items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the Company's operating and financial performance, such as depreciation and amortization related to real estate, and items which can make periodic and peer analyses of operating and financial performance more difficult, such as gains and losses from the sale of certain real estate assets and impairment write-downs of certain real estate assets.Same Property NOI
Same property NOI is a supplemental, non-GAAP performance measure utilized to evaluate the operating performance of real estate companies.  Same property NOI is calculated (using properties owned for the entirety of both periods and excluding properties under development and completed new development properties that have been stabilized for less than one year) as total property revenues (base rent, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental income, percentage rents, and other revenues) less direct property operating expenses (operating costs and real estate taxes). Same property NOI excludes (i) lease termination fees, (ii) straight-line rental income, net, (iii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements, (iv) straight-line ground rent expense, net, (v) income or expense associated with the Company's captive insurance company, (vi) depreciation and amortization, (vii) impairment of real estate assets, (viii) general and administrative expense, and (ix) other income and expense (including interest expense and gain on sale of real estate assets). Considering the nature of its business as a real estate owner and operator, the Company believes that NOI is useful to investors in measuring the operating performance of its portfolio because the definition excludes various items included in net income that do not relate to, or are not indicative of, the operating performance of the Company's properties, such as lease termination fees, straight-line rental income, net, income or expense associated with the Company's captive insurance company,  accretion of below-market leases, net of amortization of above-market leases and tenant inducements, straight-line ground rent expense, net, depreciation and amortization, impairment of real estate assets, general and administrative expense, and other income and expense (including interest expense and gain on sale of real estate assets). The Company believes that same property NOI is also useful to investors because it further eliminates disparities in NOI by only including NOI of properties owned for the entirety of both periods presented and excluding properties under development and completed new development properties that have been stabilized for less than one year and therefore provides a more consistent metric for comparing the operating performance of the Company's real estate between periods.Net Principal Debt to Adjusted EBITDA, current quarter annualized & Net Principal Debt to Adjusted EBITDA, trailing twelve months
Net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are supplemental non-GAAP measures utilized to evaluate the performance of real estate companies in relation to outstanding debt. Net principal debt is calculated as Debt obligations, net (calculated in accordance with GAAP) excluding net unamortized premium or discount and deferred financing fees less cash, cash equivalents, and restricted cash. Adjusted EBITDA is calculated as the sum of net income (calculated in accordance with GAAP) before non-controlling interests excluding (i) interest expense, (ii) federal and state taxes, (iii) depreciation and amortization, (iv) gains and losses from the sale of certain real estate assets, (v) gains and losses from change in control, (vi) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, (vii) gain (loss) on extinguishment of debt, net, and (viii) other items that the Company believes are not indicative of the Company's operating performance. Net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are calculated as net principal debt divided by quarterly annualized adjusted EBITDA or trailing twelve month adjusted EBITDA, respectively. Considering the nature of its business as a real estate owner and operator, the Company believes that net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are useful to investors in measuring its operating performance because they exclude items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the operating performance of the Company's real estate, are widely known and understood measures of performance, independent of a company's capital structure and items which can make periodic and peer analyses of performance more difficult, and can provide investors with a more consistent basis by which to compare the Company with its peers.ABOUT BRIXMOR PROPERTY GROUP
Brixmor (NYSE: BRX) owns and operates a high-quality, national portfolio of open-air shopping centers. The Company's 344 retail centers comprise approximately 62 million square feet of prime retail space in established trade areas. Brixmor's properties reflect its vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international geopolitical conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.CONSOLIDATED BALANCE SHEETS
Unaudited, dollars in thousands, except share information 





As of
As of




3/31/2026
12/31/2025
Assets




Real estate





Land$            1,837,739
$            1,849,779


Buildings and tenant improvements9,313,530
9,296,849


Construction in progress55,108
92,129


Lease intangibles538,888
548,740




11,745,265
11,787,497


Accumulated depreciation and amortization(3,636,118)
(3,588,646)

Real estate, net8,109,147
8,198,851

Cash and cash equivalents323,934
334,422

Restricted cash100,633
27,108

Marketable securities20,480
21,283

Receivables, net, including straight-line rent receivables of $244,075 and $237,837, respectively302,774
315,128

Deferred charges and prepaid expenses, net170,538
169,326

Real estate assets held for sale5,290
4,551

Other assets70,595
62,468
Total assets$            9,103,391
$            9,133,137








Liabilities




Debt obligations, net$            5,496,071
$            5,494,753

Accounts payable, accrued expenses and other liabilities570,407
628,328
Total liabilities6,066,478
6,123,081








Equity




Common stock, $0.01 par value; authorized 3,000,000,000 shares;





 315,963,609 and 315,231,761 shares issued and 306,836,617 and 306,104,769





shares outstanding3,068
3,061

Additional paid-in capital3,424,070
3,437,853

Accumulated other comprehensive income9,409
1,722

Distributions in excess of net income(399,883)
(432,822)
Total stockholders' equity3,036,664
3,009,814

Non-controlling interests249
242
Total equity3,036,913
3,010,056
Total liabilities and equity$            9,103,391
$            9,133,137 CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited, dollars in thousands, except per share amounts 








Three Months Ended


3/31/2026
3/31/2025
Revenues




Rental income$               354,337
$               337,241

Other revenues482
271
Total revenues354,819
337,512






Operating expenses




Operating costs41,914
39,211

Real estate taxes45,403
44,893

Depreciation and amortization105,202
105,597

General and administrative28,192
28,173
Total operating expenses220,711
217,874






Other income (expense)




Dividends and interest3,205
1,706

Interest expense(59,392)
(54,084)

Gain on sale of real estate assets52,097
3,070

Other   (2,261)
(593)
Total other expense(6,351)
(49,901)






Net income127,757
69,737
Net income attributable to non-controlling interests(7)
(8)
Net income attributable to Brixmor Property Group Inc.$               127,750
$                 69,729






Net income attributable to Brixmor Property Group Inc. per common share:




Basic $                     0.42
$                     0.23

Diluted $                     0.41
$                     0.23
Weighted average shares:




Basic307,024
306,766

Diluted307,679
307,252 FUNDS FROM OPERATIONS (FFO)
Unaudited, dollars in thousands, except per share amounts 











Three Months Ended


3/31/2026
3/31/2025






Net income attributable to Brixmor Property Group Inc.$           127,750
$             69,729

Depreciation and amortization related to real estate103,919
104,448

Gain on sale of real estate assets(52,097)
(3,070)
Nareit FFO$           179,572
$           171,107






Nareit FFO per diluted share$                 0.58
$                 0.56
Weighted average diluted shares outstanding307,679
307,252

Items that impact FFO comparability



     Transaction expenses, net$                   (49)
$                   (21)
Total items that impact FFO comparability $                   (49)
$                   (21)
Items that impact FFO comparability, net per share$                (0.00)
$                (0.00)






Additional Disclosures




Straight-line rental income, net$               7,939
$               7,481

Accretion of below-market leases, net of amortization of above-market leases and tenant inducements4,109
2,515

Straight-line ground rent expense, net (1)(160)
(134)






Dividends declared per share$              0.3075
$              0.2875
Dividends declared$              94,352
$              87,991
Dividend payout ratio (as % of Nareit FFO) 52.5 %
51.4 %





(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations. SAME PROPERTY NOI ANALYSIS
Unaudited, dollars in thousands 

















Three Months Ended





3/31/2026
3/31/2025
Change
Same Property NOI Analysis





Number of properties338
338
-
Percent billed91.3 %
90.0 %
1.3 %
Percent leased95.0 %
94.3 %
0.7 %









Revenues






Base rent$            237,855
$            228,427



Expense reimbursements79,138
75,837



Revenues deemed uncollectible(1,572)
(2,372)



Ancillary and other rental income / Other revenues8,335
5,592



Percentage rents4,980
3,943





328,736
311,427
5.6 %
Operating expenses 






Operating costs(39,614)
(37,490)



Real estate taxes(43,648)
(43,325)





(83,262)
(80,815)
3.0 %
Same property NOI$            245,474
$            230,612
6.4 %









NOI margin74.7 %
74.1 %


Expense recovery ratio95.0 %
93.8 %











Percent Contribution to Same Property NOI Performance:











Change
Percent Contribution



Base Rent$                9,428
4.1 %



Revenues deemed uncollectible800
0.3 %



Net expense reimbursements854
0.4 %



Ancillary and other rental income / Other revenues2,743
1.2 %



Percentage rents1,037
0.4 %







6.4 %











Reconciliation of Net income attributable to Brixmor Property Group Inc. to Same Property NOI





Net income attributable to Brixmor Property Group Inc.$            127,750
$              69,729


Adjustments:






Non-same property NOI(8,510)
(8,823)



Lease termination fees(1,630)
(4,111)



Straight-line rental income, net(7,939)
(7,481)



Accretion of below-market leases, net of amortization of above-market leases and tenant inducements(4,109)
(2,515)



Straight-line ground rent expense, net160
134



Depreciation and amortization 105,202
105,597



General and administrative 28,192
28,173



Total other expense6,351
49,901



Net income attributable to non-controlling interests7
8


Same Property NOI$            245,474
$            230,612

 EBITDA & RECONCILIATION OF DEBT OBLIGATIONS, NET TO NET PRINCIPAL DEBT
Unaudited, dollars in thousands 








Three Months Ended 


3/31/2026
3/31/2025






Net income$               127,757
$                 69,737

Interest expense59,392
54,084

Federal and state taxes939
707

Depreciation and amortization105,202
105,597
EBITDA293,290
230,125

Gain on sale of real estate assets(52,097)
(3,070)
EBITDAre$               241,193
$               227,055






EBITDAre$               241,193
$               227,055

Transaction expenses, net49
21
Adjusted EBITDA$               241,242
$               227,076






Adjusted EBITDA$               241,242
$               227,076

Straight-line rental income, net(7,939)
(7,481)

Accretion of below-market leases, net of amortization of above-market leases and tenant inducements(4,109)
(2,515)

Straight-line ground rent expense, net (1)160
134

Total adjustments (11,888)
(9,862)
Cash Adjusted EBITDA$               229,354
$               217,214





(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.










Reconciliation of Debt Obligations, Net to Net Principal Debt





As of




3/31/2026



Debt obligations, net$            5,496,071



Less: Net unamortized premium(9,613)



Add: Deferred financing fees31,995



Less: Cash, cash equivalents and restricted cash(424,567)



Net Principal Debt$            5,093,886









Adjusted EBITDA, current quarter annualized$               964,968



Net Principal Debt to Adjusted EBITDA, current quarter annualized5.3x









Adjusted EBITDA, trailing twelve months$               940,281



Net Principal Debt to Adjusted EBITDA, trailing twelve months5.4x

 





View original content to download multimedia:https://www.prnewswire.com/news-releases/brixmor-property-group-increases-2026-outlook-driven-by-strong-first-quarter-operating-results-and-accelerating-business-momentum-302754556.htmlSOURCE Brixmor Property Group Inc.

Original: BRIXMOR PROPERTY GROUP INCREASES 2026 OUTLOOK DRIVEN BY STRONG FIRST QUARTER OPERATING RESULTS AND ACCELERATING BUSINESS MOMENTUM

BRIXMOR PROPERTY GROUP ANNOUNCES FIRST QUARTER 2026 EARNINGS RELEASE AND TELECONFERENCE DATESMarch 4, 2026 4:04 PM
PR Newswire (US)

NEW YORK, March 4, 2026 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) today announced that it will release its 2026 first quarter earnings on Monday, April 27, 2026 after the market close. Brixmor will host a teleconference on Tuesday, April 28, 2026 at 10:00 AM ET.Event: Brixmor Property Group's First Quarter Earnings ResultsWhen: 10:00 AM ET, Tuesday, April 28, 2026Live Webcast: Brixmor 1Q 2026 Earnings Call under the Investors tab at https://www.brixmor.comDial #: 1.877.704.4453 (International: 1.201.389.0920)A replay of the webcast will be available on the Brixmor website at https://www.brixmor.com. A replay of the call can be accessed until midnight ET on Tuesday, May 12, 2026 by dialing 1.844.512.2921 (International: 1.412.317.6671); Passcode: 13758788.Connect With BrixmorFor additional information, please visit https://www.brixmor.com;Follow Brixmor on:LinkedIn at https://www.linkedin.com/company/brixmorFacebook at https://www.facebook.com/BrixmorInstagram at https://www.instagram.com/brixmorpropertygroupYouTube at https://www.youtube.com/user/BrixmorABOUT BRIXMOR PROPERTY GROUP
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 348 retail centers comprise approximately 63 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.SAFE HARBOR LANGUAGEThe presentation referenced in this release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) risks related to cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this presentation and in our periodic filings. The forward-looking statements speak only as of the date of this presentation, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.





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Original: BRIXMOR PROPERTY GROUP ANNOUNCES FIRST QUARTER 2026 EARNINGS RELEASE AND TELECONFERENCE DATES

BRIXMOR PROPERTY GROUP TO PRESENT AT CITI's 2026 GLOBAL PROPERTY CEO CONFERENCEFebruary 17, 2026 4:04 PM
PR Newswire (US)

NEW YORK, Feb. 17, 2026 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) today announced that the Company will present at Citi's 2026 Global Property CEO Conference Monday, March 2, 2026, from 10:15 AM ET to 10:50 AM ET.Event: Brixmor Property Group Presentation at Citi's 2026 Global Property CEO ConferenceWhen: 10:15 AM ET, Monday, March 2, 2026Live Webcast: Citi's 2026 Global Property CEO Conference under the Investors tab at https://www.brixmor.comA replay of the webcast will be available through March 3, 2027.Connect With BrixmorFor additional information, please visit https://www.brixmor.com;Follow Brixmor on:LinkedIn at https://www.linkedin.com/company/brixmor Facebook at https://www.facebook.com/BrixmorInstagram at https://www.instagram.com/brixmorpropertygroup; andYouTube at https://www.youtube.com/user/Brixmor.ABOUT BRIXMOR PROPERTY GROUP
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 348 retail centers comprise approximately 63 million square feet of prime retail space in established trade areas.  The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.SAFE HARBOR LANGUAGE
The presentation referenced in this press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) risks related to cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law.





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Original: BRIXMOR PROPERTY GROUP TO PRESENT AT CITI's 2026 GLOBAL PROPERTY CEO CONFERENCE

BRIXMOR PROPERTY GROUP REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTSFebruary 9, 2026 4:04 PM
PR Newswire (US)

 - Delivered Record Annual Operating Results, Including Small Shop Occupancy -  - Executed a Record $70 Million of New Lease ABR -  NEW YORK, Feb. 9, 2026 /PRNewswire/ -- Brixmor Property Group Inc. (NYSE: BRX) ("Brixmor" or the "Company") announced today its operating results for the three and twelve months ended December 31, 2025.  For the three months ended December 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $0.44 per diluted share and $0.27 per diluted share, respectively, and for the twelve months ended December 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $1.25 per diluted share and $1.11 per diluted share, respectively.Key highlights for the three months ended December 31, 2025 include:Executed 1.5 million square feet of new and renewal leases, with rent spreads on comparable space of 24.2%, including 0.9 million square feet of new leases, with rent spreads on comparable space of 34.7%Sequentially increased total leased occupancy to 95.1%, anchor leased occupancy to 96.6%, and small shop leased occupancy to a record 92.2%Commenced $19.6 million of annualized base rentLeased to billed occupancy spread totaled 350 basis pointsTotal signed but not yet commenced new lease population represented 2.7 million square feet and $62.3 million of annualized base rentReported an increase in same property NOI of 6.0%, including a contribution from base rent of 360 basis pointsReported Nareit FFO of $178.4 million, or $0.58 per diluted shareStabilized $92.0 million of reinvestment projects at an average incremental NOI yield of 9%, with the in process reinvestment pipeline totaling $336.4 million at an expected average incremental NOI yield of 10%Completed $190.7 million of acquisitions and $170.2 million of dispositionsRenewed the Company's $400.0 million share repurchase program and $400.0 million at-the-market ("ATM") equity offering programKey highlights for the twelve months ended December 31, 2025 include:Executed 6.0 million square feet of new and renewal leases, with rent spreads on comparable space of 21.7%, including 3.0 million square feet of new leases, with rent spreads on comparable space of 38.7%Reported an increase in same property NOI of 4.2%, including a contribution from base rent of 360 basis pointsReported Nareit FFO of $693.3 million, or $2.25 per diluted shareStabilized $183.3 million of reinvestment projects at an average incremental NOI yield of 10%Completed $416.8 million of acquisitions and $296.5 million of dispositionsIssued $800.0 million aggregate principal amount of Senior NotesAmended and restated the Company's $1.75 billion unsecured credit facilities on April 24, 2025, extending the maturities and lowering pricingPublished the Company's annual Corporate Responsibility Report on June 12, 2025Appointed Brian T. Finnegan to Chief Executive Officer effective January 1, 2026, following the announced retirement of James M. Taylor Jr., the Company's former Chief Executive Officer; Mr. Finnegan also replaced Mr. Taylor on the Company's Board of Directors and retained the title of PresidentSubsequent events:Provided 2026 Nareit FFO per diluted share expectations of $2.33 - $2.37 and same property NOI growth expectations of 4.50% - 5.50%Completed $35.9 million of dispositions"2025 was another exceptional year for the Brixmor team as we capitalized on demand from best-in-class tenants across a range of thriving retail categories to continue to drive growth and value for our stakeholders," commented Brian T. Finnegan, Chief Executive Officer and President. "Our solid execution across the Company, including the largest sequential occupancy gain in the Company's history to end the year, has us well positioned to accelerate our business plan to deliver growth in 2026 and beyond."FINANCIAL HIGHLIGHTS
Net Income Attributable to Brixmor Property Group Inc.For the three months ended December 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $137.1 million, or $0.44 per diluted share, and $83.4 million, or $0.27 per diluted share, respectively.For the twelve months ended December 31, 2025 and 2024, net income attributable to Brixmor Property Group Inc. was $386.2 million, or $1.25 per diluted share, and $339.3 million, or $1.11 per diluted share, respectively.Nareit FFO For the three months ended December 31, 2025 and 2024, Nareit FFO was $178.4 million, or $0.58 per diluted share, and $161.4 million, or $0.53 per diluted share, respectively. Results for the three months ended December 31, 2025 and 2024 include items that impact FFO comparability, including transaction expenses, net, of $(0.0) million, or $(0.00) per diluted share, and $(0.7) million, or $(0.00) per diluted share, respectively.For the twelve months ended December 31, 2025 and 2024, Nareit FFO was $693.3 million, or $2.25 per diluted share, and $647.9 million, or $2.13 per diluted share, respectively. Results for the twelve months ended December 31, 2025 and 2024 include items that impact FFO comparability, including gain (loss) on extinguishment of debt, net and transaction expenses, net, of $(0.4) million, or $(0.00) per diluted share, and $(0.3) million, or $(0.00) per diluted share, respectively.Same Property NOI Performance For the three months ended December 31, 2025, the Company reported an increase in same property NOI of 6.0% versus the comparable 2024 period.For the twelve months ended December 31, 2025, the Company reported an increase in same property NOI of 4.2% versus the comparable 2024 period.DividendThe Company's Board of Directors declared a quarterly cash dividend of $0.3075 per common share (equivalent to $1.23 per annum). The dividend is payable on April 15, 2026 to stockholders of record on April 2, 2026.PORTFOLIO AND INVESTMENT ACTIVITY
Value Enhancing Reinvestment OpportunitiesDuring the three months ended December 31, 2025, the Company stabilized nine value enhancing reinvestment projects with a total aggregate net cost of approximately $92.0 million at an average incremental NOI yield of 9% and added eight new reinvestment projects to its in process pipeline. Projects added include six anchor space repositioning projects, one outparcel development project, and one redevelopment project, with a total aggregate net estimated cost of approximately $56.1 million at an expected average incremental NOI yield of 11%.At December 31, 2025, the value enhancing reinvestment in process pipeline was comprised of 33 projects with an aggregate net estimated cost of approximately $336.4 million at an expected average incremental NOI yield of 10%. The in process pipeline includes 14 anchor space repositioning projects with an aggregate net estimated cost of approximately $63.9 million at an expected incremental NOI yield of 7% - 14%; six outparcel development projects with an aggregate net estimated cost of approximately $16.8 million at an expected average incremental NOI yield of 12%; and 13 redevelopment projects with an aggregate net estimated cost of approximately $255.8 million at an expected average incremental NOI yield of 10%.An in-depth review of a redevelopment project which highlights the Company's reinvestment capabilities, Barn Plaza (Philadelphia-Camden-Wilmington, PA-NJ-DE-MD CBSA), can be found at this link: https://www.brixmor.com/blog/barn-plaza-anchor-moves.Follow Brixmor on LinkedIn for video updates on reinvestment projects at https://www.linkedin.com/company/brixmor.AcquisitionsAs previously announced, during the three months ended December 31, 2025, the Company acquired two shopping centers and one land parcel at an existing property for a combined purchase price of $190.7 million, including:Chino Spectrum Towne Center, a 461,246 square foot grocery-anchored regional center located in the dense, high-income market of Chino Hills, California, less than 35 minutes east of Los Angeles, for $138.0 million.Broomfield Town Centre, a 175,368 square foot grocery-anchored community shopping center located in the high-income Denver suburb of Broomfield, Colorado for $51.2 million.As previously announced, during the twelve months ended December 31, 2025, the Company acquired three shopping centers and two land parcels at existing properties for a combined purchase price of $416.8 million.Dispositions As previously announced, during the three months ended December 31, 2025, the Company generated $170.2 million of gross proceeds on the disposition of eight shopping centers, as well as two partial properties.As previously announced, during the twelve months ended December 31, 2025, the Company generated $296.5 million of gross proceeds on the disposition of 18 shopping centers, as well as six partial properties.Subsequent to December 31, 2025, the Company generated approximately $35.9 million of proceeds on the disposition of two shopping centers.CAPITAL STRUCTURE On October 28, 2025, the Company renewed its $400.0 million share repurchase program and its $400.0 million ATM equity offering program, which together will continue to provide Brixmor with maximum flexibility to capitalize on a wide range of potential capital markets environments and support the long-term execution of its business plan.During the twelve months ended December 31, 2025, the Company's Operating Partnership, Brixmor Operating Partnership LP (the "Operating Partnership"), issued $800.0 million aggregate principal amount of Senior Notes.On April 24, 2025, the Operating Partnership amended and restated its $1.25 billion revolving credit facility and $500.0 million term loan facility. The restated unsecured credit facilities extend the maturity of the revolving credit facility to April 2029, extend the maturity of the term loan facility to April 2030, and improve the pricing of the unsecured credit facilities.At December 31, 2025, the Company had $1.6 billion in liquidity.At December 31, 2025, the Company's net principal debt to adjusted EBITDA, current quarter annualized was 5.4x and net principal debt to adjusted EBITDA, trailing twelve months was 5.6x.GUIDANCEThe Company expects 2026 NAREIT FFO per diluted share of $2.33 - $2.37 and same property NOI growth of 4.50% - 5.50%.Revenues deemed uncollectible is expected to total 75 - 100 bps of total expected revenues in 2026.2026 expectations do not include any items that impact FFO comparability, which include gain or loss on extinguishment of debt, net and transaction expenses, net, or any other one-time items.The following table provides a bridge from the Company's 2025 Nareit FFO per diluted share to the Company's 2026 expected Nareit FFO per diluted share:

Low
High2025 Nareit FFO per diluted share
$2.25
$2.25Same property NOI growth
0.14
0.17Interest expense
(0.03)
(0.03)Lease termination fees
(0.03)
(0.03)Non-cash GAAP rental adjustments 1
(0.02)
(0.01)Impact of transaction activity
0.01
0.01General and administrative expense and other 2
0.01
0.012026E Nareit FFO per diluted share
$2.33
$2.37

1.Includes straight-line rental income, net, accretion of below-market leases, net of amortization of above-market leases and tenant inducements, and straight-line ground rent expense.2.Includes general and administrative expense, dividends and interest, non-real estate depreciation and amortization, and other income (expense).The following table provides a reconciliation of the range of the Company's 2026 estimated net income attributable to Brixmor Property Group Inc. to Nareit FFO: (Unaudited, dollars in millions, except per share amounts)
2026E
2026E Per Diluted Share    Net income attributable to Brixmor Property Group Inc.
$299 - $312
$0.97  - $1.01     Depreciation and amortization related to real estate
418
1.36    Nareit FFO
$717 - $730
$2.33 - $2.37CONNECT WITH BRIXMORFor additional information, please visit https://www.brixmor.com;Follow Brixmor on:LinkedIn at https://www.linkedin.com/company/brixmorFacebook at https://www.facebook.com/BrixmorInstagram at https://www.instagram.com/brixmorpropertygroup; andYouTube at https://www.youtube.com/user/Brixmor.CONFERENCE CALL AND SUPPLEMENTAL INFORMATION
The Company will host a teleconference on Tuesday, February 10, 2026 at 10:00 AM ET. To participate, please dial 877.704.4453 (domestic) or 201.389.0920 (international) within 15 minutes of the scheduled start of the call. The teleconference can also be accessed via a live webcast at  https://www.brixmor.com in the Investors section. A replay of the teleconference will be available through February 24, 2026 by dialing 844.512.2921 (domestic) or 412.317.6671 (international) (Passcode: 13757055) or via the web through February 10, 2027 at https://www.brixmor.com in the Investors section.The Company's Supplemental Disclosure will be posted at https://www.brixmor.com in the Investors section. These materials are also available to all interested parties upon request to the Company at investorrelations@brixmor.com or 800.468.7526NON-GAAP PERFORMANCE MEASURES
The Company presents the non-GAAP performance measures set forth below.  These measures should not be considered as alternatives to, or more meaningful than, net income (calculated in accordance with GAAP) or other GAAP financial measures, as an indicator of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (calculated in accordance with GAAP) as a measure of liquidity.  Non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental financial results to those calculated in accordance with GAAP.  The Company's computation of these non-GAAP performance measures may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from these non-GAAP performance measures are relevant to understanding and addressing financial performance. A reconciliation of net income to these non-GAAP performance measures is presented in the attached tables.Nareit FFO
Nareit FFO is a supplemental, non-GAAP performance measure utilized to evaluate the operating and financial performance of real estate companies. Nareit defines FFO as net income (calculated in accordance with GAAP) excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control, (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and (v) after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis. Considering the nature of its business as a real estate owner and operator, the Company believes that Nareit FFO is useful to investors in measuring its operating and financial performance because the definition excludes items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the Company's operating and financial performance, such as depreciation and amortization related to real estate, and items which can make periodic and peer analyses of operating and financial performance more difficult, such as gains and losses from the sale of certain real estate assets and impairment write-downs of certain real estate assets.Same Property NOI
Same property NOI is a supplemental, non-GAAP performance measure utilized to evaluate the operating performance of real estate companies.  Same property NOI is calculated (using properties owned for the entirety of both periods and excluding properties under development and completed new development properties that have been stabilized for less than one year) as total property revenues (base rent, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental income, percentage rents, and other revenues) less direct property operating expenses (operating costs and real estate taxes). Same property NOI excludes (i) lease termination fees, (ii) straight-line rental income, net, (iii) accretion of below-market leases, net of amortization of above-market leases and tenant inducements, (iv) straight-line ground rent expense, net, (v) income or expense associated with the Company's captive insurance company, (vi) depreciation and amortization, (vii) impairment of real estate assets, (viii) general and administrative expense, and (ix) other income and expense (including interest expense and gain on sale of real estate assets). Considering the nature of its business as a real estate owner and operator, the Company believes that NOI is useful to investors in measuring the operating performance of its portfolio because the definition excludes various items included in net income that do not relate to, or are not indicative of, the operating performance of the Company's properties, such as lease termination fees, straight-line rental income, net, income or expense associated with the Company's captive insurance company,  accretion of below-market leases, net of amortization of above-market leases and tenant inducements, straight-line ground rent expense, net, depreciation and amortization, impairment of real estate assets, general and administrative expense, and other income and expense (including interest expense and gain on sale of real estate assets). The Company believes that same property NOI is also useful to investors because it further eliminates disparities in NOI by only including NOI of properties owned for the entirety of both periods presented and excluding properties under development and completed new development properties that have been stabilized for less than one year and therefore provides a more consistent metric for comparing the operating performance of the Company's real estate between periods.Net Principal Debt to Adjusted EBITDA, current quarter annualized & Net Principal Debt to Adjusted EBITDA, trailing twelve months
Net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are supplemental non-GAAP measures utilized to evaluate the performance of real estate companies in relation to outstanding debt. Net principal debt is calculated as Debt obligations, net (calculated in accordance with GAAP) excluding net unamortized premium or discount and deferred financing fees less cash, cash equivalents, and restricted cash. Adjusted EBITDA is calculated as the sum of net income (calculated in accordance with GAAP) before non-controlling interests excluding (i) interest expense, (ii) federal and state taxes, (iii) depreciation and amortization, (iv) gains and losses from the sale of certain real estate assets, (v) gains and losses from change in control, (vi) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity, (vii) gain (loss) on extinguishment of debt, net, and (viii) other items that the Company believes are not indicative of the Company's operating performance. Net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are calculated as net principal debt divided by quarterly annualized adjusted EBITDA or trailing twelve month adjusted EBITDA, respectively. Considering the nature of its business as a real estate owner and operator, the Company believes that net principal debt to adjusted EBITDA, current quarter annualized and net principal debt to adjusted EBITDA, trailing twelve months are useful to investors in measuring its operating performance because they exclude items included in net income (calculated in accordance with GAAP) that do not relate to or are not indicative of the operating performance of the Company's real estate, are widely known and understood measures of performance, independent of a company's capital structure and items which can make periodic and peer analyses of performance more difficult, and can provide investors with a more consistent basis by which to compare the Company with its peers.ABOUT BRIXMOR PROPERTY GROUP
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 348 retail centers comprise approximately 63 million square feet of prime retail space in established trade areas.  The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers.  Brixmor is a valued partner to a broad range of retailers, including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the "Investors" page of its website at https://www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.SAFE HARBOR LANGUAGE
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, and other non-historical statements. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates," or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under the sections entitled "Forward-Looking Statements" and "Risk Factors" in our Form 10-K for the year ended December 31, 2025, as such factors may be updated from time to time in our periodic filings with the Securities and Exchange Commission (the "SEC"), which are accessible on the SEC's website at https://www.sec.gov. These factors include (1) changes in national, regional, and local economies, due to global events such as international military conflicts, international trade disputes, a foreign debt crisis, foreign currency volatility, or due to domestic issues, such as government policies and regulations, tariffs, energy prices, market dynamics, general economic contractions, ongoing levels of inflation and interest rates, unemployment, or limited growth in consumer income or spending; (2) local real estate market conditions, including an oversupply of space in, or a reduction in demand for, properties similar to those in our Portfolio (defined hereafter); (3) competition from other available properties and e-commerce; (4) disruption and/or consolidation in the retail sector, the financial stability of our tenants, and the overall financial condition of large retailing companies, including their ability to pay rent and/or expense reimbursements that are due to us; (5) in the case of percentage rents, the sales volumes of our tenants; (6) increases in property operating expenses, including common area expenses, utilities, insurance, and real estate taxes, which are relatively inflexible and generally do not decrease if revenue or occupancy decrease; (7) increases in the costs to repair, renovate, and re-lease space; (8) earthquakes, wildfires, tornadoes, hurricanes, damage from rising sea levels due to climate change, other natural disasters, epidemics and/or pandemics, civil unrest, terrorist acts, or acts of war, any of which may result in uninsured or underinsured losses; (9) changes in laws and governmental regulations, including those governing usage, zoning, the environment, privacy, data security, intellectual property rights, and taxes; and (10) risks related to cybersecurity incidents or other disruptions to information technology systems used by us, our tenants, or our vendors, which could compromise data or impair business operations. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our periodic filings. The forward-looking statements speak only as of the date of this press release, and we expressly disclaim any obligation or undertaking to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except to the extent otherwise required by law. CONSOLIDATED BALANCE SHEETSUnaudited, dollars in thousands, except share information










As of
As of



12/31/2025
12/31/2024Assets



Real estate




Land$            1,849,779
$             1,834,814

Buildings and tenant improvements9,296,849
8,895,571

Construction in progress92,129
152,260

Lease intangibles548,740
526,412



11,787,497
11,409,057

Accumulated depreciation and amortization(3,588,646)
(3,410,179)
Real estate, net8,198,851
7,998,878
Cash and cash equivalents334,422
377,616
Restricted cash27,108
1,076
Marketable securities21,283
20,301
Receivables, net, including straight-line rent receivables of $237,837 and $208,785, respectively315,128
281,947
Deferred charges and prepaid expenses, net169,326
167,080
Real estate assets held for sale4,551
4,189
Other assets62,468
57,827Total assets$             9,133,137
$            8,908,914






Liabilities



Debt obligations, net$             5,494,753
$            5,339,751
Accounts payable, accrued expenses and other liabilities628,328
585,241Total liabilities6,123,081
5,924,992






Equity



Common stock, $0.01 par value; authorized 3,000,000,000 shares;3,061
3,055

315,231,761 and 314,619,008 shares issued and 306,104,769 and 305,492,016




shares outstanding



Additional paid-in capital3,437,853
3,431,043
Accumulated other comprehensive income1,722
8,218
Distributions in excess of net income(432,822)
(458,638)Total stockholders' equity3,009,814
2,983,678
Non-controlling interests242
244Total equity3,010,056
2,983,922Total liabilities and equity$             9,133,137
$            8,908,914 CONSOLIDATED STATEMENTS OF OPERATIONSUnaudited, dollars in thousands, except per share amounts










Three Months Ended
Twelve Months Ended

12/31/2025
12/31/2024
12/31/2025
12/31/2024Revenues







Rental income$               352,209
$               328,356
$            1,369,465
$             1,283,421
Other revenues1,541
86
2,132
1,633Total revenues353,750
328,442
1,371,597
1,285,054








Operating expenses







Operating costs44,306
42,307
162,285
152,825
Real estate taxes44,324
43,632
178,231
164,291
Depreciation and amortization102,822
103,331
414,930
381,396
Impairment of real estate assets4,386
-
20,461
11,143
General and administrative28,631
27,933
112,669
116,363Total operating expenses224,469
217,203
888,576
826,018








Other income (expense)







Dividends and interest3,649
4,978
7,736
20,776
Interest expense(59,516)
(55,441)
(224,689)
(215,994)
Gain on sale of real estate assets64,496
24,090
123,339
78,064
Gain (Loss) on extinguishment of debt, net-
-
(296)
554
Other   (780)
(1,460)
(2,856)
(3,160)Total other expense7,849
(27,833)
(96,766)
(119,760)









Net income137,130
83,406
386,255
339,276
Net income attributable to non-controlling interests(5)
(2)
(27)
(2)
Net income attributable to Brixmor Property Group Inc.$                137,125
$               83,404
$               386,228
$               339,274









Net income attributable to Brixmor Property Group Inc. per common share:







Basic $                      0.45
$                   0.27
$                     1.26
$                     1.12
Diluted $                      0.44
$                   0.27
$                     1.25
$                     1.11
Weighted average shares:







Basic307,232
305,042
307,181
303,130
Diluted307,933
306,052
307,866
304,038 FUNDS FROM OPERATIONS (FFO)Unaudited, dollars in thousands, except per share amounts












Three Months Ended
Twelve Months Ended


12/31/2025
12/31/2024
12/31/2025
12/31/2024









Net income attributable to Brixmor Property Group Inc.
$                 137,125
$                 83,404
$               386,228
$               339,274
Depreciation and amortization related to real estate
101,413
102,125
409,947
375,511
Gain on sale of real estate assets
(64,496)
(24,090)
(123,339)
(78,064)
Impairment of real estate assets
4,386
-
20,461
11,143Nareit FFO
$                178,428
$               161,439
$               693,297
$               647,864









Nareit FFO per diluted share
$                      0.58
$                     0.53
$                     2.25
$                     2.13Weighted average diluted shares outstanding
307,933
306,052
307,866
304,038









Items that impact FFO comparability








Gain (Loss) on extinguishment of debt, net
$                            -
$                           -
$                     (296)
$                     554
Transaction expenses, net
(36)
(748)
(58)
(879)Total items that impact FFO comparability 
$                        (36)
$                     (748)
$                     (354)
$                    (325)Items that impact FFO comparability, net per share
$                     (0.00)
$                    (0.00)
$                    (0.00)
$                   (0.00)









Additional Disclosures








Straight-line rental income, net
$                    6,324
$                   7,198
$                 33,444
$                30,867
Accretion of below-market leases, net of amortization of above-market leases and tenant inducements
2,747
3,327
14,560
8,562
Straight-line ground rent expense, net (1)
(158)
(87)
(591)
(68)









Dividends declared per share
$                 0.3075
$                 0.2875
$                 1.1700
$                1.1050Dividends declared
$                 94,127
$                 87,829
$               358,126
$              334,362Dividend payout ratio (as % of Nareit FFO) 
52.8 %
54.4 %
51.7 %
51.6 %

(1)Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations. SAME PROPERTY NOI ANALYSISUnaudited, dollars in thousands














Three Months Ended


Twelve Months Ended



12/31/2025
12/31/2024
Change
12/31/2025
12/31/2024
ChangeSame Property NOI Analysis










Number of properties337
337
- %
332
332
- %Percent billed91.7 %
91.6 %
0.1 %
91.7 %
91.5 %
0.2 %Percent leased95.3 %
95.6 %
(0.3) %
95.3 %
95.6 %
(0.3) %












Revenues











Base rent$               232,386
$               224,505


$               903,042
$               871,807


Expense reimbursements76,988
74,212


292,077
275,598


Revenues deemed uncollectible(3,591)
(3,378)


(10,987)
(8,655)


Ancillary and other rental income / Other revenues10,270
5,717


32,323
23,146


Percentage rents1,411
1,867


8,978
9,534



317,464
302,923
4.8 %
1,225,433
1,171,430
4.6 %Operating expenses 











Operating costs(40,810)
(39,837)


(149,004)
(142,965)


Real estate taxes(42,024)
(41,686)


(166,157)
(154,932)



(82,834)
(81,523)
1.6 %
(315,161)
(297,897)
5.8 %Same property NOI$               234,630
$               221,400
6.0 %
$              910,272
$              873,533
4.2 %












NOI margin73.9 %
73.1 %


74.3 %
74.6 %

Expense recovery ratio92.9 %
91.0 %


92.7 %
92.5 %














Percent Contribution to Same Property NOI Performance:












Change
Percent
Contribution


Change
Percent
Contribution


Base Rent$                   7,881
3.6 %


$               31,235
3.6 %


Revenues deemed uncollectible(213)
(0.1) %


(2,332)
(0.3) %


Net expense reimbursements1,465
0.7 %


(785)
(0.1) %


Ancillary and other rental income / Other revenues4,553
2.0 %


9,177
1.1 %


Percentage rents(456)
(0.2) %


(556)
(0.1) %





6.0 %




4.2 %














Reconciliation of Net income attributable to Brixmor Property Group Inc. to Same Property NOI







Net income attributable to Brixmor Property Group Inc.$               137,125
$                83,404


$            386,228
$             339,274

Adjustments:











Non-same property NOI(12,251)
(9,607)


(58,007)
(51,436)


Lease termination fees(9,326)
(1,058)


(15,389)
(3,608)


Straight-line rental income, net(6,324)
(7,198)


(33,444)
(30,867)


Accretion of below-market leases, net of amortization of above-market leases and tenant inducements(2,747)
(3,327)


(14,560)
(8,562)


Straight-line ground rent expense, net158
87


591
68


Depreciation and amortization 102,822
103,331


414,930
381,396


Impairment of real estate assets4,386
-


20,461
11,143


General and administrative 28,631
27,933


112,669
116,363


Total other expense(7,849)
27,833


96,766
119,760


Net income attributable to non-controlling interests5
2


27
2

Same Property NOI$              234,630
$              221,400


$             910,272
$             873,533

 EBITDA & RECONCILIATION OF DEBT OBLIGATIONS, NET TO NET PRINCIPAL DEBTUnaudited, dollars in thousands










Three Months Ended 
Twelve Months Ended

12/31/2025
12/31/2024
12/31/2025
12/31/2024








Net income$                 137,130
$                 83,406
$               386,255
$               339,276
Interest expense59,516
55,441
224,689
215,994
Federal and state taxes652
758
2,765
2,740
Depreciation and amortization102,822
103,331
414,930
381,396EBITDA300,120
242,936
1,028,639
939,406
Gain on sale of real estate assets(64,496)
(24,090)
(123,339)
(78,064)
Impairment of real estate assets4,386
-
20,461
11,143EBITDAre$                240,010
$              218,846
$                925,761
$               872,485








EBITDAre$                240,010
$              218,846
$                925,761
$               872,485
(Gain) Loss on extinguishment of debt, net-
-
296
(554)
Transaction expenses, net36
748
58
879
Total adjustments 36
748
354
325Adjusted EBITDA$                240,046
$              219,594
$                926,115
$               872,810








Adjusted EBITDA$                240,046
$              219,594
$                926,115
$               872,810
Straight-line rental income, net(6,324)
(7,198)
(33,444)
(30,867)
Accretion of below-market leases, net of amortization of above-market leases and tenant inducements(2,747)
(3,327)
(14,560)
(8,562)
Straight-line ground rent expense, net (1)158
87
591
68
Total adjustments (8,913)
(10,438)
(47,413)
(39,361)Cash Adjusted EBITDA$                231,133
$              209,156
$               878,702
$              833,449








(1) Straight-line ground rent expense, net is included in Operating costs on the Consolidated Statements of Operations.








Reconciliation of Debt Obligations, Net to Net Principal Debt








As of







12/31/2025





Debt obligations, net$             5,494,753





Less: Net unamortized premium(10,277)





Add: Deferred financing fees33,977





Less: Cash, cash equivalents and restricted cash(361,530)





Net Principal Debt$             5,156,923














Adjusted EBITDA, current quarter annualized$                960,184





Net Principal Debt to Adjusted EBITDA, current quarter annualized5.4x














Adjusted EBITDA, trailing twelve months$                 926,115





Net Principal Debt to Adjusted EBITDA, trailing twelve months5.6x





  





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Original: BRIXMOR PROPERTY GROUP REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS