Brixmor Property Group Turns To Profit In Q2 - Quick Facts

(RTTNews) - Brixmor Property Group Inc. (BRX) reported second-quarter net income attributable to common stockholders of $23.47 million or $0.10 per share, compared to net loss of $43.26 million or $0.24 per share in the year-ago period. On a pro forma basis, earnings for the quarter were $0.10, compared to $0.02 per share in the prior-year period.

Funds from Operations or FFO for the second quarter attributable to stockholders and non-controlling interests convertible into common stock increased to $140.07 million or $0.46 per share from $88.99 million or $0.37 per share last year. Pro forma FFO per share was $0.46, compared to $0.41 per share in the year-ago quarter.

Total revenues for the quarter grew to $308.08 million from $278.22 million in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share for the quarter on revenues of $305.60 million.

The company's board of directors declared a quarterly cash dividend of $0.20 per common share, equivalent to $0.80 per annum, for the third quarter of 2014. The dividend is payable on October 15, 2014 to stockholders of record on October 3, 2014, representing an ex-dividend date of October 1, 2014.

The company affirmed its previously provided expectations for 2014 earnings and portfolio metrics.