Brixmor Property Group Q3 FFO Beats Estimates at 60 Cents Per Share

Brixmor Property Group Inc. (BRX) reported third-quarter funds from operations of $184.6 million, or 60 cents per share, topping the 59-cent average estimate of six analysts surveyed by Zacks Investment Research. The New York-based shopping center REIT posted net income of $87.8 million, or 28 cents per share, on revenue of $359.6 million, which also beat Street forecasts of $356.1 million from five analysts. Brixmor guided full-year funds from operations to a range of $2.36 to $2.38 per share. Shares rose to $28.20 in late trading Monday and have gained 7.5% since the start of the year.