Brixmor Property Group Inc (BRX) is overvalued and NNN REIT Inc (NNN) is overvalued.
Both trade above our estimate of their intrinsic value. NNN is the closer of the two: -24%, against -81% for BRX.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.1% (average of 3 methods) values the shares at $15.49; the price of $27.96 is 81% above that value, and 79% of that value comes from beyond year five.
Leak Score 14/100 on 3 of 12 signals
Discounting its cash flows at 7.7% (average of 3 methods) values the shares at $33.43; the price of $41.60 is 24% above that value, and 81% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
| Metric | BRX | NNN |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $27.96 | $41.60 |
| Intrinsic value | $15.49 | $33.43 |
| Margin of safety | -81% | -24% |
| Leak Score | 14/100 (3/12) | 0/100 (2/12) |
| Market cap | $8.6B | $8.0B |
| Revenue growth, 5 years | 5.4% | 7.0% |
| Operating margin | 36.8% | 61.4% |
| Net margin | 30.7% | 40.3% |
| Return on equity | 14.5% | 8.7% |
| Debt to equity | 1.83 | 1.12 |
| P/E | 19.9x | 20.5x |
| Forward P/E | 27.6x | 19.7x |
| P/B | 2.8x | 1.8x |
| Dividend yield | 4.5% | 5.9% |