Brixmor: 1Q Earnings Snapshot
{{#rendered}} {{/rendered}}NEW YORK (AP) _ Brixmor Property Group Inc. (BRX) on Monday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The real estate investment trust, based in New York, said it had funds from operations of $154.8 million, or 51 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 51 cents per share.
{{#rendered}} {{/rendered}}Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $61 million, or 20 cents per share.
The owner and operator of shopping centers posted revenue of $317.2 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $318.7 million.
{{#rendered}} {{/rendered}}The company's shares have decreased 20 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.88, a decline of 25 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on BRX at https://www.zacks.com/ap/BRX