Summary :
The New York-based real estate investment trust said it had funds from operations of $148.9 million, or 49 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 48 cents per share. Brixmor expects full-year funds from operations in the range of $1.93 to $1.97 per share. In the final minutes of trading on Monday, shares hit $22.92, decreasing slightly in the last 12 months.
NEW YORK (AP) _ Brixmor Property Group Inc. (BRX) on Monday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.The New York-based real estate investment trust said it had funds from operations of $148.9 million, or 49 cents per share, in the period.The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 48 cents per share. 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 $87.8 million, or 29 cents per share. The owner and operator of shopping centers posted revenue of $306.1 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $292.9 million. Brixmor expects full-year funds from operations in the range of $1.93 to $1.97 per share. Check levels down to the neighborhood Ratings for the Bay Area and California, updated every 10 minutes The company’s shares have fallen almost 10% since the beginning of the year. In the final minutes of trading on Monday, shares hit $22.92, decreasing slightly in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BRX at https://www.zacks.com/ap/BRX
