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Sep 30, 2021
Brixmor Q3 2021 Earnings Report
Brixmor's operating results were announced for Q3 2021, featuring increased leased occupancy and same property NOI.
Key Takeaways
Brixmor Property Group reported strong Q3 2021 results, with key highlights including significant leasing activity, increased occupancy rates, and a substantial rise in same property NOI. The company also updated its full-year NAREIT FFO and same property NOI growth expectations upward.
Executed 1.7 million square feet of new and renewal leases, with rent spreads on comparable space of 12.3%.
Increased total leased occupancy to 91.5%, anchor leased occupancy to 94.2%, and small shop leased occupancy to 85.7%.
Reported an increase in same property NOI of 14.5%.
Stabilized $52.5 million of reinvestment projects at an average incremental NOI yield of 10%.
Forward Guidance
The Company has updated its previously provided NAREIT FFO per diluted share expectations for 2021 to $1.72 - $1.75 from $1.70 - $1.76 and same property NOI growth expectations for 2021 to 7.5% - 8.5% from 4.5% - 6.0%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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