Brixmor: 2Q Earnings Snapshot
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NEW YORK (AP) _ Brixmor Property Group Inc. (BRX) on Monday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The New York-based real estate investment trust said it had funds from operations of $154.3 million, or 51 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 50 cents per share.
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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 $80.4 million, or 26 cents per share.
The owner and operator of shopping centers posted revenue of $313 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $308.2 million.
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The company's shares have decreased 7 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.31, a fall of 11 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