Brixmor Q4 2020 Earnings Report
Key Takeaways
Brixmor Property Group reported Q4 2020 results, with rent collections improving to 92.7% of billed rent. The company executed 1.4 million square feet of leases with rent spreads of 8.0% and realized a leased occupancy of 90.7%. Same property NOI decreased by 6.4%, and NAREIT FFO was $99.7 million, or $0.33 per diluted share.
Rent collections continued to improve, reaching 92.7% of billed based rent.
1.4 million square feet of new and renewal leases were executed, with rent spreads on comparable space of 8.0%.
Total leased occupancy reached 90.7%.
Same property NOI decreased by 6.4%, reflecting $11.2 million of revenues deemed uncollectible primarily related to COVID-19.
Brixmor
Brixmor
Forward Guidance
The Company expects 2021 NAREIT FFO per diluted share of $1.56 – 1.70 and same property NOI growth of (1.0) – 3.0%.