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Investing.com - KeyBanc has reiterated its Overweight rating on Brixmor Property (NYSE:BRX) with a price target of $32.00, representing a potential 21% upside from the current price of $26.50.
The firm expressed increased conviction in its investment thesis following management meetings and third-quarter earnings results for the retail real estate investment trust, which currently has a market capitalization of $8.1 billion.
KeyBanc highlighted Brixmor’s positioning for above-trend same-store net operating income (SSNOI) and adjusted funds from operations (AFFO) growth in the near term, citing the portfolio’s low-rent basis and strong mark-to-market opportunity. InvestingPro data shows Brixmor has raised its dividend for 5 consecutive years, with impressive 12.84% dividend growth over the last twelve months.
The firm noted that Brixmor’s signed-not-opened (SNO) pipeline represents more than 5% growth potential, while tenant risk appears lower heading into 2026. This outlook aligns with Brixmor’s overall Financial Health score of "GOOD" according to InvestingPro analysis, despite short-term obligations exceeding liquid assets.
KeyBanc views Brixmor shares as attractively valued at a 7.2% implied capitalization rate, which is 20 basis points higher than peers, and a 6% discount on 2026 AFFO multiple, suggesting potential for multiple expansion as the growth outlook improves. Analysts appear to agree with this assessment, with a high price target of $35 and a consensus recommendation of "Buy." The REIT currently offers a 4.64% dividend yield, attractive for income-focused investors. For comprehensive analysis of Brixmor and 1,400+ other US equities, access the detailed Pro Research Report available on InvestingPro.
In other recent news, Brixmor Property Group announced its third-quarter 2025 earnings, surpassing analyst expectations. The company reported an earnings per share (EPS) of $0.31, exceeding the anticipated $0.23, which marks a surprise increase of 34.78%. Additionally, Brixmor’s revenue also outperformed forecasts, reaching $340.84 million compared to the expected $338.47 million. These results highlight the company’s ability to deliver stronger-than-expected financial performance. Despite the positive earnings and revenue figures, broader market conditions may have influenced investor sentiment. The company’s stock showed a decline in premarket trading, though this movement is not directly tied to the earnings report. No mergers or acquisitions were reported in this period. Analyst reactions to these earnings results have not been specified in the current updates.
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