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Brixmor Property Group Reports Fourth Quarter And Full Year 2020 Results


Brixmor Property Gro

iCrowdNewswire   Feb 20, 2021  12:42 PM ET

 Brixmor Property Group Inc. announced today its operating results for the three and twelve months ended December 31, 2020.  For the three months ended December 31, 2020 and 2019, net income was $0.08 per diluted share and $0.21 per diluted share, respectively, and for the twelve months ended December 31, 2020 and 2019, net income was $0.41  per diluted share and $0.92  per diluted share, respectively.

Key highlights for the three months ended December 31, 2020 include:

Key highlights for the twelve months ended December 31, 2020 include:

“The disruption of the last year has not only demonstrated the durability and resilience of our people, our portfolio and our business plan, it has accelerated many trends that will be tailwinds for our business,” commented James Taylor, Chief Executive Officer and President. “As we look ahead, we are encouraged by the strength of tenant demand to be in our well-located centers, the delivery of accretive reinvestments and our opportunities to drive additional value.”  

COVID-19 UPDATE  

(as of February 5, 2021)

 

Percent of 2Q20
Billed Base Rent
Collected

Percent of 3Q20
Billed Base Rent
Collected

Percent of 4Q20
Billed Base Rent
Collected

Percent of 2Q20,
3Q20 and 4Q20
Billed Base Rent
Collected

Percent of
January 2021
Billed Base Rent
Collected

Essential tenants

 

99.0%

99.0%

99.0%

99.0%

98.5%

Hybrid tenants

 

85.7%

89.4%

91.0%

88.7%

89.0%

Other retail / services

 

73.0%

83.0%

88.5%

81.4%

87.3%

Total

 

85.0%

90.0%

92.7%

89.2%

91.5%

Rent deferrals and abatements

 

9.4%

4.8%

2.2%

5.5%

1.2%

Total addressed billed base rent

 

94.4%

94.8%

94.9%

94.7%

92.7%

FINANCIAL HIGHLIGHTS

Net Income

NAREIT FFO

Same Property NOI Performance

Dividend

PORTFOLIO AND INVESTMENT ACTIVITY  

Value Enhancing Reinvestment Opportunities

Acquisitions

Dispositions

CAPITAL STRUCTURE   

GUIDANCE

(Unaudited, dollars in millions, except per share amounts)

 

2021E

 

2021E Per
Diluted Share

Net income attributable to common stockholders

 

$148 – $190

 

$0.50 – $0.64

Depreciation and amortization

 

316

 

1.06

NAREIT FFO

 

$464 – $506

 

$1.56 – $1.70

CONNECT WITH BRIXMOR

CONFERENCE CALL AND SUPPLEMENTAL INFORMATION

The Company will host a teleconference on Friday, February 12, 2021 at 10:00 AM ET. 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 on February 26, 2021 by dialing 844.512.2921 (domestic) or 412.317.6671 (international) (Passcode: 13713549) or via the web through February 12, 2022 at www.brixmor.com in the Investors section.

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.



Contact Information:

http://www.brixmor.com








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