Brixmor Property (BRX) Tops Q2 FFO Estimates

Core Viewpoint - Brixmor Property (BRX) reported quarterly funds from operations (FFO) of $0.54 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, and showing an increase from $0.52 per share a year ago [1][10]. Financial Performance - The company posted revenues of $315.69 million for the quarter ended June 2024, which was below the Zacks Consensus Estimate by 1.36%, compared to $309.79 million in the same quarter last year [14]. - Over the last four quarters, Brixmor has surpassed consensus FFO estimates two times [5]. - The current consensus FFO estimate for the upcoming quarter is $0.52 on revenues of $320.24 million, and for the current fiscal year, it is $2.11 on revenues of $1.29 billion [7]. Market Position and Outlook - Brixmor shares have increased approximately 5.5% since the beginning of the year, while the S&P 500 has gained 14.5% [11]. - The Zacks Industry Rank for REIT and Equity Trust - Retail is currently in the top 18% of over 250 Zacks industries, indicating a favorable outlook for the industry [15]. - The estimate revisions trend for Brixmor is favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [12].