Brixmor raises dividend 7.3% and lifts guidance as occupancy hits a record

Brixmor Property Group raised its dividend by more than 7% and lifted its 2026 outlook on Monday after leasing demand pushed occupancy at its shopping centers to a record.

Nareit funds from operations were $184.6 million, or $0.60 per diluted share, in the third quarter, according to the company's earnings release filed with the SEC. Net income attributable to Brixmor was $0.28 per diluted share, compared with $0.31 a year earlier.

Record occupancy

Total leased occupancy rose to a record 95.6%. Anchor occupancy was 97.0%, and small shop occupancy reached a record 92.8%.

Brixmor signed 1.6 million square feet of new and renewal leases in the quarter. Rents on comparable space were 25.3% higher, including 42.6% on new leases. Same property net operating income rose 6.6%.

The company also has a backlog of signed leases that have not yet started. They cover 3.1 million square feet and $68.9 million of annualized base rent.

Raised outlook and dividend

Brixmor raised its 2026 Nareit FFO guidance to $2.36 to $2.38 per diluted share, from $2.35 to $2.37. It now expects same property NOI growth of 5.50% to 5.75%, up from 5.00% to 5.75%.

The quarterly dividend rises 7.3% to $0.33 per share, or $1.32 a year. It is payable Jan. 15, 2027, to holders of record on Jan. 5.

Slate deal pending

In September, Brixmor agreed with Everview Partners to acquire Slate Grocery REIT in a transaction valued at about $2.34 billion. Brixmor will buy a 23-property grocery-anchored portfolio for about $636 million. It will also hold a 20% common equity stake and a preferred equity investment of about $174 million in a joint venture. The deal still needs approval from Slate Grocery REIT unitholders, the release said.

By the numbers

• Q3 Nareit FFO per share: $0.60
• Total leased occupancy: 95.6%, a record
• Comparable rent spread: 25.3%
• 2026 FFO guidance: $2.36 to $2.38, previously $2.35 to $2.37
• New quarterly dividend: $0.33, up 7.3%

Sources

1. Brixmor Property Group Inc., Form 8-K with third quarter 2026 earnings release, filed Oct. 26, 2026 (accession 0001581068-26-000032)

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