UBS Begins Coverage of Brixmor Property Group (BRX) with Buy Rating

On May 30, UBS analyst Michael Goldsmith initiated coverage on Brixmor Property Group Inc. (NYSE:BRX)’s stock with a Buy rating and a price objective of $29.00, as reported by The Fly. The assessment is backed by the company’s expectation of mid-single-digit funds from operations (FFO) growth, together with an attractive valuation. The analyst also discussed Brixmor Property Group Inc. (NYSE:BRX)’s robust Signed-Not-Opened pipeline. This is anticipated to offer a clear-cut view into the company’s future rent growth.

UBS Begins Coverage on Brixmor Property Group (BRX) Stock

A business executive in a boardroom reviewing documents and discussing opportunities for the REIT.

Furthermore, the analyst also mentioned Brixmor Property Group Inc. (NYSE:BRX)’s strong redevelopment pipeline. Such projects are expected to contribute to the company’s same property net operating income (NOI) growth over the upcoming 3 years. During Q1 2025, the company stabilized 6 value-enhancing reinvestment projects with a total aggregate net cost of ~$27.5 million at an average incremental NOI yield of 11%. It added 8 new reinvestment projects to its in-process pipeline.

As of March 31, 2025, the value-enhancing reinvestment in-process pipeline consisted of 37 projects with an aggregate net estimated cost of ~$390.9 million at an expected average incremental NOI yield of 10%. Brixmor Property Group Inc. (NYSE:BRX) stated that its healthy forward leasing and reinvestment pipelines, along with its attractive rent basis, position it well to outperform, even during market disruption.

Brixmor Property Group Inc. (NYSE:BRX) is a REIT that owns and operates a high-quality, national portfolio of open-air shopping centers.

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