Brixmor: Q3 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Brixmor Property Group Inc. (BRX) on Monday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.

The New York-based real estate investment trust said it had funds from operations of $152.2 million, or 50 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.

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 $63.7 million, or 21 cents per share.

The owner and operator of shopping centers posted revenue of $307.3 million in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $308.5 million.

Brixmor expects full-year funds from operations in the range of $2.02 to $2.04 per share.

The company's shares have decreased 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.16, a decline of almost 5% 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