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Brixmor Property Group Inc. announced its operating results for the three months ended June 30, 2020<\/span>. For the three months ended June 30, 2020<\/span> and 2019, net income was $0.03<\/span> per diluted share and $0.23<\/span> per diluted share, respectively.<\/p>\n Key highlights for the three months ended June 30, 2020<\/span> include:<\/p>\n COVID-19 UPDATE (as of July 29, 2020<\/span>)<\/strong><\/p>\n “We are pleased with the resiliency and durability demonstrated by our portfolio of well-located, community focused shopping centers,” commented James Taylor<\/span>, Chief Executive Officer and President. “With 94% of our tenants now open and traffic levels increasing with tenant openings, our centers have proven integral to the communities they serve and are well positioned for future growth.”<\/p>\n FINANCIAL HIGHLIGHTS<\/strong><\/p>\n Net Income<\/em><\/strong><\/p>\n NAREIT FFO<\/em><\/strong><\/p>\n Same Property NOI Growth<\/em><\/strong><\/p>\n PORTFOLIO AND INVESTMENT ACTIVITY <\/strong><\/p>\n Value Enhancing Reinvestment Opportunities<\/em><\/strong><\/p>\n Dispositions<\/em><\/strong><\/p>\n CAPITAL STRUCTURE <\/strong><\/p>\n CONNECT WITH BRIXMOR<\/strong><\/p>\n CONFERENCE CALL AND SUPPLEMENTAL INFORMATION<\/strong><\/p>\n The Company will host a teleconference on Tuesday, August 4, 2020<\/span> at 10:00 AM ET<\/span>. To participate, please dial 877.705.6003 (domestic) or 201.493.6725 (international) within 15 minutes of the scheduled start of the call. The teleconference can also be accessed via a live webcast at www.brixmor.com in the Investors section. A replay of the teleconference will be available through midnight ET<\/span> on August 18, 2020<\/span> by dialing 844.512.2921 (domestic) or 412.317.6671 (international) (Passcode: 13705310) or via the web through August 4, 2021<\/span> at www.brixmor.com in the Investors section.<\/p>\n The Company’s Supplemental Disclosure will be posted at www.brixmor.com in the Investors section. These materials are also available to all interested parties upon request to the Company at investorrelations@brixmor.com or 800.468.7526.<\/p>\n NON-GAAP PERFORMANCE MEASURES<\/strong><\/p>\n The Company presents the non-GAAP performance measures set forth below. These measures should not be considered as alternatives to, or more meaningful than, net income (calculated in accordance with GAAP) or other GAAP financial measures, as an indicator of financial performance and are not alternatives to, or more meaningful than, cash flow from operating activities (calculated in accordance with GAAP) as a measure of liquidity. Non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental financial results to those calculated in accordance with GAAP. The Company’s computation of these non-GAAP performance measures may differ in certain respects from the methodology utilized by other REITs and, therefore, may not be comparable to similarly titled measures presented by such other REITs. Investors are cautioned that items excluded from these non-GAAP performance measures are relevant to understanding and addressing financial performance. A reconciliation of these non-GAAP performance measures to net income is presented in the attached table. <\/p>\n NAREIT FFO<\/em><\/strong><\/p>\n NAREIT FFO is a supplemental, non-GAAP performance measure utilized to evaluate the operating and financial performance of real estate companies. The National Association of Real Estate Investment Trusts (“NAREIT”) defines FFO as net income (loss), calculated in accordance with GAAP, excluding (i) depreciation and amortization related to real estate, (ii) gains and losses from the sale of certain real estate assets, (iii) gains and losses from change in control and (iv) impairment write-downs of certain real estate assets and investments in entities when the impairment is directly attributable to decreases in the value of depreciable real estate held by the entity and after adjustments for unconsolidated joint ventures calculated to reflect FFO on the same basis. Considering the nature of its business as a real estate owner and operator, the Company believes that NAREIT FFO is useful to investors in measuring its operating and financial performance because the definition excludes items included in net income that do not relate to or are not indicative of the Company’s operating and financial performance, such as depreciation and amortization related to real estate, and items which can make periodic and peer analyses of operating and financial performance more difficult, such as gains and losses from the sale of certain real estate assets.<\/p>\n Same Property NOI<\/em><\/strong><\/p>\n Same property NOI is a supplemental, non-GAAP performance measure utilized to evaluate the operating performance of real estate companies. Same property NOI is calculated (using properties owned for the entirety of both periods and excluding properties under development and completed new development properties which have been stabilized for less than one year) as total property revenues (base rent, expense reimbursements, adjustments for revenues deemed uncollectible, ancillary and other rental income, percentage rents and other revenues) less direct property operating expenses (operating costs and real estate taxes). Same property NOI excludes (i) corporate level expenses (including general and administrative), (ii) lease termination fees, (iii) straight-line rental income, net, (iv) accretion of above- and below-market leases and tenant inducements, net, (v) straight-line ground rent expense, and (vi) income \/ expense associated with the Company’s captive insurance company. Considering the nature of its business as a real estate owner and operator, the Company believes that same property NOI is useful to investors in measuring the operating performance of its property portfolio because the definition excludes various items included in net income that do not relate to, or are not indicative of, the operating performance of the Company’s properties, such as depreciation and amortization and corporate level expenses (including general and administrative), and because it eliminates disparities in NOI due to the acquisition or disposition of properties or the stabilization of completed new development properties during the period presented and therefore provides a more consistent metric for comparing the operating performance of the Company’s real estate between periods.<\/p>\n ABOUT BRIXMOR PROPERTY GROUP<\/strong><\/p>\n Brixmor is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 398 retail centers comprise approximately 70 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor’s vision “to be the center of the communities we serve” and are home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to approximately 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets, Wal-Mart, Ross Stores<\/span> and L.A. Fitness.<\/p>\n Brixmor announces material information to its investors in SEC filings and press releases and on public conference calls, webcasts and the “Investors” page of its website at www.brixmor.com. The Company also uses social media to communicate with its investors and the public, and the information Brixmor posts on social media may be deemed material information. Therefore, Brixmor encourages investors and others interested in the Company to review the information that it posts on its website and on its social media channels.<\/p>\n Tags:<\/b> www.brixmor.com. <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"\n
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See Campaign: <\/strong>http:\/\/www.brixmor.com. <\/a>
Contact Information:<\/b>
www.brixmor.com. <\/p>\n
<\/a>, Wire<\/a>, Wire Real Estate<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
\nContact Information:<\/h3>\n
Brixmor Property Group Inc. announced its operating results for the three months ended June 30, 2020. For the three months ended June 30, 2020 and 2019, net income was $0.03 per diluted share and $0.23 per diluted share, respectively. Key highlights for the three months ended June 30, 2020 include: Executed 1.3 million square feet of new and renewal leases, with rent spreads on … Continue reading Brixmor Property Group Reports Second Quarter 2020 Results<\/span><\/a> Continue Reading