Brixmor Property Group Inc.

Listed Company

BRXCIK 0001581068NYSELarge AcceleratedReal Estate Investment TrustsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$386.23M

Total Assets

$9.13B

Equity

$3.01B

Shares Out

306.84M

Op. Cash Flow

$652.01M

Business

Brixmor Property Group Inc. is an internally-managed REIT that owns and operates one of the largest publicly traded open-air retail portfolios in the U.S. It provides leasing, property management, redevelopment and reinvestment services for primarily grocery-anchored community and neighborhood shopping centers, including tenant merchandising and common-area operations. Management conducts the business through a single reportable segment via Brixmor Operating Partnership LP, focusing on portfolio management, acquisitions, dispositions and capital strategy. The national portfolio is concentrated in top U.S. Core-Based Statistical Areas and leased directly to national, regional and local tenants, emphasizing non-discretionary and value-oriented retailers and service providers.

Summary from filing dated 2025-02-10

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental income	1,369	1,283	1,244	1,217	1,146
Other revenues	2	2	1	712,000	6
Total revenues	1,372	1,285	1,245	1,218	1,152
Operating costs	162	153	146	141	132
Real estate taxes	178	164	174	170	166
Depreciation and amortization	415	381	362	345	327
Impairment of real estate assets	20	11	18	6	2
General and administrative	113	116	117	117	105
Total operating expenses	889	826	817	779	732
Dividends and interest	8	21	666,000	314,000	299,000
Interest expense	−225	−216	−191	−192	—
Gain on sale of real estate assets	123	78	65	112	73
Gain (loss) on extinguishment of debt, net	−300,000	600,000	4	−221,000	−28
Other	−3	−3	−2	−4	−65,000
Total other expense	−97	−120	−123	−84	−150
Net income	386	339	305	354	270
Net income attributable to non-controlling interests	−27,000	−2,000	0	0	—
Net income attributable to Brixmor Property Group Inc.	386	339	305	354	—
Basic (usd per share)	1.26	1.12	1.01	1.18	0.91
Diluted (usd per share)	1.25	1.11	1.01	1.17	0.9
Basic (in shares)	307	303	301	300	297
Diluted (in shares)	308	304	302	302	299

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Land	1,850	1,835	1,794	1,820	1,773
Buildings and improvements	9,938	9,574	9,202	9,078	8,655
Real estate, gross	11,787	11,409	10,996	10,898	10,428
Accumulated depreciation and amortization	−3,589	−3,410	−3,199	−2,997	−2,813
Real estate, net	8,199	7,999	7,797	7,902	—
Cash and cash equivalents	334	378	866,000	16	297
Restricted cash	27	1	18	5	1
Marketable securities	21	20	20	22	20
Receivables, net	315	282	279	264	235
Deferred charges and prepaid expenses, net	169	167	164	154	144
Real estate assets held for sale	5	4	0	10	16
Other assets	62	58	54	63	50
Total assets	9,133	8,909	8,333	8,436	8,377
Debt obligations, net	5,495	5,340	4,934	5,036	5,165
Accounts payable, accrued expenses and other liabilities	628	585	549	535	495
Total liabilities	6,123	5,925	5,482	5,571	5,659
Commitments and contingencies (Note 15)	0	0	0	0	0
Common stock	3	3	3	3	3
Additional paid-in capital	3,438	3,431	3,311	3,299	3,232
Accumulated other comprehensive income	2	8	−3	9	−13
Distributions in excess of net income	−433	−459	−461	−446	−504
Total stockholders' equity	3,010	2,984	2,850	—	—
Non-controlling interests	242,000	244,000	0	—	—
Total equity	3,010	2,984	2,850	2,865	2,718
Total liabilities and equity	9,133	8,909	8,333	8,436	8,377

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	415	381	362	345	327
Accretion of debt premium and discount, net	−3	−3	−3	−3	−3
Deferred financing cost amortization	7	7	7	7	7
Accretion of above- and below-market leases, net	−17	−11	−13	−12	−13
Tenant inducement amortization and other	2	2	4	4	5
Impairment of real estate assets	20	11	18	6	2
Gain on sale of real estate assets	−123	−78	−65	−112	−73
Equity based compensation	18	18	21	23	17
(Gain) loss on extinguishment of debt, net	296,000	−554,000	−4	221,000	28
Receivables, net	−35	−8	−17	−32	2
Deferred charges and prepaid expenses	−37	−33	−40	−38	−30
Other assets	362,000	−551,000	−845,000	−551,000	−448,000
Accounts payable, accrued expenses and other liabilities	18	27,000	15	25	12
Net cash provided by operating activities	652	625	589	566	552
Improvements to and investments in real estate assets	−320	−353	−345	−330	−309
Acquisitions of real estate assets	−421	−294	−2	−410	−259
Proceeds from sales of real estate assets	289	210	182	280	237
Purchase of marketable securities	−16	−30	−21	−25	−17
Proceeds from sale of marketable securities	15	30	23	23	16
Net cash used in investing activities	−452	−437	−163	−462	−331
Repayment of borrowings under unsecured revolving credit facility	−660	−99	−632	−675	0
Proceeds from borrowings under unsecured revolving credit facility	660	80	526	800	0
Proceeds from unsecured term loans and notes	799	796	200	0	848
Repayment of borrowings under unsecured notes	−632	−367	−194	−250	−850
Deferred financing and debt extinguishment costs	−16	−8	−783,000	−8	−34
Net proceeds from issuances of common shares	−449,000	115	0	53	5
Distributions to common stockholders	−354	−331	−315	−290	−257
Contributions from non-controlling interests	0	242,000	0	0	—
Distributions to non-controlling interests	−95,000	0	0	—	—
Repurchases of common shares in conjunction with equity award plans	−12	−14	−11	−10	−6
Net cash provided by (used in) financing activities	−217	172	−428	−380	−294
Net change in cash, cash equivalents and restricted cash	−17	360	−2	−276	−72
Cash paid for interest, net of amount capitalized of $4,055, $3,981 and $4,147	220	189	187	187	191
Change in accrued capital expenditures	−17	3	6	—	—
State and local taxes paid	2	2	2	2	2

Filings

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