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June 25, 2014
19:55 EDTBRXBrixmor 29.95M share Secondary priced at $22.50
The deal size was increased to 29.95M shares from 25M shares. BofA/Merrill, Citigroup, JPMorgan and Wells Fargo acted as joint book running managers for the offering.
News For BRX From The Last 14 Days
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October 27, 2014
16:20 EDTBRXBrixmor provides update on strategies to enhance portfolio value
Brixmor Property Group provided an update on its ongoing program to maximize value in its shopping center portfolio. These initiatives involve upgrading its centers' merchandise mix with strong, best-in-class anchors to drive higher sales, traffic and small shop leasing, while elevating center appeal to improve rent levels and shopping center net operating income. Since July of 2011 and continuing through its initial public offering in late 2013 to today, the Company has intensified its focus on enhancing the quality of its assets and improving the customer experience through a unified organizational effort known as "Raising the Bar." These strategic leasing, anchor space repositioning and redevelopment initiatives are illustrated in a series of case studies in a presentation entitled "Raising the Bar An Organizational Focus on Shopping Center Transformation." During that time period, the Company executed 285 new anchor leases, which in turn accelerated follow-on small shop leasing at 179 of its properties. The results of the program to date have been reflected in strong rent levels for new lease signings at $20.35 per square foot as compared with in-place rents of $12.10 per square foot. These actions have significantly transformed the property merchandise mix and tenant quality, driving improvement in net operating income and asset value. The Company estimates that capitalization rates have improved by as much as 250 basis points for these assets. An additional 160 shopping centers offering similar rent spread opportunities have been identified as candidates for the "Raising the Bar" initiative over the next five years.
16:18 EDTBRXBrixmor sees FY14 EPS 33c-36c, consensus 37c
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16:17 EDTBRXBrixmor raises quarterly dividend 12.5% to 22.5c per share
The dividend is payable on January 15, 2015 to stockholders of record on January 6, 2015, representing an ex-dividend date of January 2, 2015.
16:16 EDTBRXBrixmor reports Q3 EPS 11c, consensus 10c
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