NYSE$BRX

Brixmor Property Group Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Brixmor's Q4 2019 operating results were announced, featuring strong leasing, rent growth, and reinvestment returns.

Brixmor Property Group reported strong leasing, rent growth, and reinvestment returns for Q4 2019. The company executed 2.7 million square feet of total leasing volume, grew total leased occupancy to 92.4%, and generated same property NOI growth of 5.1%.

  • Executed 2.7 million square feet of total leasing volume, including options, with rent spreads on comparable space of 10.9%.
  • Grew total leased occupancy to 92.4% and anchor leased occupancy to 95.2%.
  • Generated same property NOI growth of 5.1%, driven by a 390 basis point contribution from base rent.
  • Stabilized $47.0 million of reinvestment projects at an average incremental NOI yield of 10%.

Headline financials

Total Revenue

$293M

Previous: $298M-1.5%
EPS (adj)

$0.47

Previous: $0.40+17.5%
Net Income

$62.1M

No prior period
Operating Income

$101M

No prior period
Gross Profit

$218M

Previous: $221M-1.4%
Cash & Equivalents

$19.1M

Previous: $41.7M-54.3%
Total Assets

$8.14B

Previous: $8.24B-1.2%
Stock-Based Comp

$3.81M

Previous: $1.37M+178.0%

Revenue & EPS history

Brixmor · Revenue · Quarterly

$293M

Q4 2019-1.5%vs Q4 2018
Beat estimate in 7 of 16 quarters(44%)
ActualEstimate

Revenue by segment

Brixmor · $293M total across 1 segment · Q4 2019

  • Rental Income
    $293M

Forward guidance

The Company expects 2020 NAREIT FFO per diluted share of $1.90 - 1.97 and same property NOI growth of 3.00 - 3.50%.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+0.9%

Avg return

Earnings day

+1.6%

Avg return

5 days after

+2.2%

Avg return

30 days after

63%

36 / 57 earnings

Positive

+8.3%

Q1 2020

Best reaction

-4.2%

Q1 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.3%-2.4%+0.9%
Q4 2025+2.5%+4.1%+5.5%
Q3 2025-4.2%-7.1%-7.2%
Q2 2025+0.3%+2.4%+6.1%
Q1 2025-4.2%-1.2%-1.5%
Q4 2024+3.9%+5.7%-3.6%
Q3 2024+0.2%-1.3%+10.6%
Q2 2024+7.4%+3.3%+12.0%
Q1 2024+1.7%+2.2%-1.3%
Q4 2023-0.4%+1.6%-1.4%
Q3 2023+4.5%+9.3%+7.2%
Q2 2023+0.7%+0.0%-1.8%
Q1 2023-1.1%+0.1%-6.1%
Q4 2022+0.3%+0.6%-8.7%
Q3 2022-1.2%+2.4%+7.8%
Q2 2022-2.9%-4.1%-7.3%
Q1 2022-0.8%-4.7%-5.9%
Q4 2021+1.0%+1.0%+1.4%
Q3 2021+4.9%+8.8%-5.1%
Q2 2021-0.2%+2.0%+3.1%
Q1 2021-1.1%+1.7%+6.6%
Q4 2020+4.7%+3.0%+13.2%
Q3 2020-1.7%+20.6%+39.6%
Q2 2020+4.3%+5.8%+7.5%
Q1 2020+8.3%-3.7%+47.9%
Q4 2019-1.0%-1.1%-25.1%
Q3 2019+1.5%+5.0%+4.5%
Q2 2019+2.3%+2.6%-0.2%
Q1 2019-0.9%+0.8%-4.8%
Q4 2018-0.6%+0.9%-0.8%
Q3 2018+4.6%+1.8%+3.7%
Q2 2018+3.6%+5.4%+7.3%
Q1 2018-1.3%-2.7%+4.3%
Q4 2017+4.4%+11.4%+7.9%
Q3 2017-2.9%-2.8%+1.3%
Q2 2017+1.5%+0.2%-4.4%
Q1 2017+2.1%-2.1%-8.7%
Q4 2016-2.0%-3.9%-9.7%
Q3 2016+0.3%-6.2%-8.3%
Q2 2016-0.8%+3.0%+2.1%
Q1 2016+1.7%
Q4 2015+0.4%
Q3 2015+1.2%
Q2 2015+1.1%
Q1 2015-1.5%
Q4 2014-0.3%
Q3 2014+1.3%
Q2 2014-0.0%
Q1 2013+2.0%
Q1 2014+2.0%
Q1 2012+1.1%
Q2 2013+1.1%
Q2 2012+1.1%
Q4 2013+1.0%
Q4 2012+0.3%
Q3 2012+0.3%
Q3 2013+0.3%

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