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Jun 30, 2020
Brixmor Q2 2020 Earnings Report
Brixmor's operating results announced for Q2 2020.
Key Takeaways
Brixmor Property Group reported a net income of $9.0 million, or $0.03 per diluted share, and NAREIT FFO of $94.1 million, or $0.32 per diluted share. The company executed 1.3 million square feet of new and renewal leases and realized a total leased occupancy of 92.1%.
Executed 1.3 million square feet of new and renewal leases, with rent spreads on comparable space of 5.9%.
Realized total leased occupancy of 92.1%, anchor leased occupancy of 95.1% and small shop leased occupancy of 85.2%.
Generated same property NOI growth of (9.0%), with a 290 basis point positive contribution from base rent.
Reported NAREIT FFO of $94.1 million, or $0.32 per diluted share, offset by $27.8 million of revenues deemed uncollectible and an $11.5 million reversal of straight-line rental income, net primarily related to COVID-19.
Revenue by Segment
Forward Guidance
Company's Board of Directors elected to continue the temporary suspension of its quarterly cash dividend and will reevaluate the dividend on a quarterly basis.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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