| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 44 | 20.7x | 17.8x | Around median | |
Growth | 42 | 5.9% | 7.1% | Around median | |
Quality | 80 | 6.3% | 4.5% | Top tier | |
Safety | 42 | 4.7x | 2.6x | Around median | |
Capital Return | 52 | 4.21% | 2.12% | Around median | |
Momentum | 57 | 13.3% | 2.9% | Around median | |
Sentiment | 45 | 6 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Brixmor Property Group Inc. is a real estate company focused on open-air shopping centers that are predominantly grocery-anchored, generating its income by leasing space to retailers, restaurants, service providers, and health and wellness businesses. Its growth depends on raising rents when leases are signed and renewed, increasing occupancy, developing underutilized land and space, reinvesting capital in existing assets, and selectively acquiring centers where the tenant mix can be improved or density increased.
In Q2 of fiscal year 2026, revenue reached $353.9 million, compared with $339.4 million in Q2 of fiscal year 2025, representing growth of approximately 4.3%. Net income was $73.5 million and earnings per share were $0.24, compared with net income of $85.1 million and earnings per share of $0.28 a year earlier; accordingly, net income declined by approximately 13.6%, and the calculated net income margin fell from approximately 25.1% to approximately 20.8%. The company also reported $0.58 in funds from operations per share, while same-property net operating income grew 5.8%, including a 440-basis-point contribution from base rent.
Total leased occupancy was 94.8% in Q2 of fiscal year 2026, while small-shop occupancy reached a record 92.6%. The company executed new and renewal leases covering 1.4 million square feet, with a combined cash rent spread of 19%, including 31% on new leases and 16% on renewals, and attracted brands such as Trader Joe's, Ross Dress for Less, Barnes & Noble, Sierra, and HomeSense. This mix reflects operating growth driven by grocery stores, anchor tenants, small shops, restaurants, services, and health and wellness businesses, with no separate revenue disclosure for each category in the available data.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $35.43, within a range of $33 to $40, and the stock has a Buy consensus; the average also exceeds the upper end of the 52-week range of $32.86 by approximately 7.8%, while the highest target is approximately 21.7% above it. No price-to-earnings multiple is available in the data, so the stock's valuation is based on analyst targets and the 52-week range of $24.66–$32.86, balancing net operating income growth and the rent pipeline against the decline in net income and earnings per share in Q2 of fiscal year 2026.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
Brixmor's revenue reached approximately $353.9 million, up approximately 4.3% from $339.4 million in Q2 of fiscal year 2025. Net income was $73.5 million and earnings per share were $0.24, compared with $85.1 million and $0.28, respectively, a year earlier. The company reported funds from operations of $0.58 per share, while same-property net operating income grew 5.8%. Total leased occupancy was 94.8%, and small-shop occupancy reached a record 92.6%.
Signed annual base rent not yet commenced reached a record $71 million on July 28, 2026. The company expects $29 million of rent to commence in the second half of fiscal year 2026 and approximately $37 million in fiscal year 2027, with an additional six months of leasing activity remaining when the results were released. It also has approximately $350 million of active reinvestment projects at an expected incremental return of 10% and a future pipeline exceeding $700 million. Management confirmed that a significant portion of signed rents will commence in fiscal year 2027 and beyond.
The company executed new and renewal leases covering 1.4 million square feet in Q2 of fiscal year 2026, with a combined cash rent spread of 19%. New lease spreads reached 31% and renewal spreads reached 16%, while embedded rent growth hit a record 2.8%. Management explained that average base rent increased from $12 to more than $19, but the company is signing new leases in the mid-$20s range, while anchor-tenant leases expiring within three years at approximately $11 are being signed near $18. At least six of eight recaptured anchor spaces were also re-leased at spreads exceeding 40%.
Brixmor prioritizes reinvestment in its assets and ended Q2 of fiscal year 2026 with approximately $350 million of active projects and an expected incremental return of 10%. It added eight projects to the active pipeline, including Morris Hills, Southtown, and Market Plaza, alongside four new outparcel projects. It also completed four acquisitions valued at $164 million, including Mayfair Shopping Center, Jones Crossing, Vintage Marketplace, and Stanford Station, at a combined capitalization rate in the low-6% range. Mayfair and Jones Crossing were added to the redevelopment pipeline, while management expects rent growth associated with some of these assets to commence within three to four years.
Net income declined approximately 13.6% year over year to $73.5 million, and earnings per share fell to $0.24 despite revenue growth. Total leased occupancy also declined 30 basis points sequentially to 94.8%, and the company recorded a cost of approximately $3 million from reversing straight-line rental revenue related to recaptured spaces. Some re-leasing and redevelopment income will not commence until fiscal year 2027, and some acquisitions require three or four years to deliver the targeted rent growth. In addition, the company faces increasing competition from private capital for open-air retail assets, and insiders recorded net sales of 267,300 shares during the three months through August 12, 2026, although those sales may have been prearranged.
Management raised its fiscal year 2026 guidance to same-property net operating income growth of between 5% and 5.75%, and funds from operations of between $2.35 and $2.37 per share. The increase is based on operating strength and an improved forecast for uncollectible revenue of 60–85 basis points of total revenue. The stock has a Buy consensus, with an average target of $35.43, a low target of $33, and a high target of $40. The average target is above the top of the 52-week range of $32.86, but the absence of a disclosed price-to-earnings multiple makes the valuation more dependent on the execution of rent growth and redevelopment. compelling to sustainable revenue.
