Brixmor Q1 2021 Earnings Report
Key Takeaways
Brixmor Property Group reported first quarter 2021 results, showing continued improvement in rent collections, significant leasing productivity, and a decrease in same property NOI of 1.5%.
94.2% of billed based rent collected for the three months ended March 31, 2021.
Executed 1.4 million square feet of new and renewal leases, with rent spreads on comparable space of 7.0%.
Total leased occupancy of 90.8%, anchor leased occupancy of 93.8% and small shop leased occupancy of 84.2%.
Stabilized $28.4 million of reinvestment projects at an average incremental NOI yield of 11%.
Brixmor
Brixmor
Forward Guidance
The Company has updated its previously provided NAREIT FFO per diluted share expectations for 2021 to $1.60 – 1.70 from $1.56 – 1.70 and its same property NOI growth expectations for 2021 to 1.0 – 3.0% from (1.0) – 3.0%.