Dane Bowler
Value, hedge fund analyst, REITs, long/short equity

Unrecognized Quality Presents 48% Upside At Brixmor Properties

The Buy Thesis

Brixmor Properties (NYSE:BRX) has a strong reward-to-risk profile with deep value and growth potential protected by a high quality and well diversified portfolio. At $22.93, it trades at just 11.7X its projected 2015 FFO. The quality of Brixmor, deserves a substantially higher trading multiple and there are numerous catalysts in place to help it get there.

  1. Correction of misconceptions
  2. Internal growth - occupancy and rate
  3. Steady slow growth
  4. Credit Rating upgrade

Each catalyst will be described in greater detail, but first, let us introduce Brixmor's business and why we believe it is of superior quality.

BRX - overview

BRX is a grocery anchored shopping center REIT with a market cap of $5.8B. Although it IPOed...

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