Brixmor Property (BRX) PT Raised to $29 at Evercore ISI

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Go back to Brixmor Property (BRX) PT Raised to $29 at Evercore ISI

Deutsche Bank Reiterates Buy Rating on Brixmor Property (BRX)

October 29, 2024 6:12 AM EDT

Deutsche 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