Brixmor Property Group (BRX) Tops Q3 EPS by 10c, Misses on Revenue
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Deutsche Bank Reiterates Buy Rating on Brixmor Property (BRX)
October 29, 2024 6:12 AM EDTDeutsche Bank analyst Omotayo Okusanya reiterated a Buy rating and $32.00 price target on Brixmor Property (NYSE: BRX).
The analyst comments "3Q24 NAREIT FFO/sh results of $0.52 were in line with DBe and -1c below Street expectations. Operating metrics remained solid as billed occupancy increased +50bps q/q to 91.9%, lease spreads remained impressive (+15.9%), while a clear path for earnings growth in the signed but not yet commenced pipeline (370bps of occupancy difference) remains intact. However, 3Q24 results were negatively impacted by elevated uncollectible rental income, a resumption in expense growth... More
