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Financial Data and Key Metrics Changes - The company reported a Nareit FFO per share growth of 7.2% and core FFO per share growth of 7% for 2025, with same-center NOI growth of 3.8% [5][18] - For 2026, guidance indicates mid-single digit growth rates for Nareit FFO and core FFO per share [5][20] Business Line Data and Key Metrics Changes - The company executed 1,026 leases totaling approximately 6 million square feet in 2025, with portfolio occupancy ending the year at 97.3% leased [12][18] - Comparable renewal rent spreads were reported at 20% in Q4, while comparable new leasing rent spreads were at 34.3% [13][18] Market Data and Key Metrics Changes - The company noted strong demand for necessity-based retail, with no signs of slowing, and high retention rates of 93% [11][12] - The company anticipates bad debt in 2026 to be in line with 2025, which was approximately 78 basis points of revenue [14][56] Company Strategy and Development Direction - The core business focuses on grocery-anchored shopping centers, with a disciplined acquisition strategy targeting an unlevered IRR of 9% for grocery-anchored acquisitions and above 10% for everyday retail centers [8][10] - The company plans to continue its development and redevelopment projects, with 20 projects under active construction and an estimated total investment of approximately $70 million [15][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the consumer and the strength of their portfolio, despite market concerns regarding consumer health and tariffs [5][18] - The company believes it can consistently deliver 3%-4% same-center NOI growth and achieve mid to high single-digit core FFO per share growth on a long-term basis [22] Other Important Information - The company has approximately $925 million of liquidity to support acquisition plans and aims to sell between $100 million and $200 million in assets in 2026 [20][21] - The company is focused on maintaining a high-quality portfolio while improving its long-term growth profile through strategic dispositions [21][70] Q&A Session Summary Question: Acquisition strategy and competition for grocery-anchored assets - Management acknowledged increased competition but noted a high level of confidence in reaching acquisition targets due to a balanced market [25][26] Question: Update on the Ocala development parcel - Management highlighted the growth in the Ocala market and expected unlevered returns above 9.5%-10% on the project [28][29] Question: Portfolio occupancy and leverage in renewal negotiations - Management indicated that high occupancy levels provide leverage in negotiations, with expectations for continued growth in inline stores [33][35] Question: Everyday retail acquisition strategy - Management sees everyday retail as a unique opportunity but emphasizes a disciplined approach to ensure high returns [39][40] Question: Capital deployment alternatives - Management discussed the potential for ground-up development and share buybacks, noting that acquisitions remain a priority [44][46] Question: Impact of Amazon's store closures on grocery demand - Management expressed that Amazon's struggles in brick-and-mortar retail do not significantly impact their grocery demand [49][50] Question: Bad debt expectations for 2026 - Management confirmed that bad debt levels are expected to remain consistent with 2025, with no significant concerns [56][57] Question: Credit rating and cost of debt - Management believes they are an underrated credit and is focused on increasing scale to improve their credit rating [60][61] Question: Disposition strategy and cap rates - Management outlined a strategy of trading out stabilized assets for higher return opportunities, with expectations for cap rates in the 5.5% to sub-5 range [68][70]

Financial Data and Key Metrics Changes - The company reported Nareit FFO per share growth of 7.2% and Core FFO per share growth of 7% for 2025, with same-center NOI growth of 3.8% [5][18] - For 2026, guidance indicates mid-single digit growth rates for Nareit FFO and Core FFO per share [5][20] Business Line Data and Key Metrics Changes - The company executed 1,026 leases totaling approximately 6 million square feet in 2025, with portfolio occupancy ending the year at 97.3% leased [12][13] - Comparable renewal rent spreads were reported at 20% in Q4, while new leasing rent spreads were strong at 34.3% [13] Market Data and Key Metrics Changes - The company noted strong demand for necessity-based retail, with no signs of slowing, and high retention rates of 93% [11][12] - The company anticipates bad debt in 2026 to be in line with 2025, which was approximately 78 basis points of revenue [14][56] Company Strategy and Development Direction - The core business focuses on grocery-anchored shopping centers, with a disciplined acquisition strategy targeting an unlevered IRR of 9% for grocery-anchored acquisitions and above 10% for everyday retail centers [8][10] - The company plans to continue its development and redevelopment projects, with 20 projects under active construction and an estimated total investment of approximately $70 million [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the consumer and the strength of their portfolio, despite market concerns about consumer health and tariffs [5][9] - The company believes it can consistently deliver 3%-4% same-center NOI growth and achieve mid to high single-digit core FFO per share growth on a long-term basis [22] Other Important Information - The company has approximately $925 million of liquidity to support acquisition plans and aims to sell between $100 million and $200 million in assets in 2026 [18][20] - The company sold approximately $145 million of assets in 2025 at PECO share [20] Q&A Session Summary Question: Expectations for acquisition volume and competition for grocery-anchored assets - Management acknowledged increased competition but noted a high level of confidence in reaching acquisition targets due to a balanced market [25][26] Question: Update on the Ocala development parcel and timing - Management expressed excitement about the Ocala market, with expectations for unlevered returns above 9.5%-10% on the project [28][29] Question: Occupancy levels and leverage in renewal negotiations - Management indicated that high occupancy levels provide leverage in negotiations, with expectations for continued growth in inline stores [32][35] Question: Capital deployment and stock buybacks - Management stated that while they consider share buybacks, they believe better returns can be achieved through acquisitions and redevelopment [45][46] Question: Impact of Amazon's store closures on grocery demand - Management noted that Amazon's struggles with brick-and-mortar retail do not significantly impact their grocery demand, as traditional grocers maintain strong market positions [49][50] Question: Bad debt expectations and visibility - Management confirmed that bad debt levels are consistent with previous expectations, with no significant concerns moving into 2026 [56][57] Question: Credit rating and cost of debt - Management believes they are an underrated credit and that scale will help improve their credit rating, which could lower their cost of debt [60][61] Question: Disposition strategy and cap rates - Management outlined a strategy focused on trading out stabilized assets for higher return opportunities, with expectations for cap rates in the 5.5% to sub-5 range [68][70]

Financial Data and Key Metrics Changes - The company reported Nareit FFO per share growth of 7.2% and core FFO per share growth of 7% for 2025, with same-center NOI growth of 3.8% [3][11] - For 2026, guidance indicates mid-single digit growth rates for Nareit FFO and core FFO per share [3][12] - Fourth quarter Nareit FFO increased to $88.8 million or $0.64 per diluted share, while Core FFO increased to $91.1 million or $0.66 per diluted share [11] Business Line Data and Key Metrics Changes - The core business remains focused on grocery-anchored shopping centers, with a strong operating platform driving rent and NOI growth [5] - The company executed 1,026 leases totaling approximately 6 million square feet in 2025, with portfolio occupancy ending the year at 97.3% leased [7][9] - Comparable renewal rent spreads were 20% in Q4, and new leasing rent spreads were strong at 34.3% [8] Market Data and Key Metrics Changes - The company noted high demand for necessity-based retail with no signs of slowing, contributing to strong leasing activity [6] - The portfolio retention rate remained high at 93% at year-end, indicating strong tenant stability [8] - The company expects bad debt in 2026 to be in line with 2025, which was approximately 78 basis points of revenue [9] Company Strategy and Development Direction - The company aims to deliver gross acquisitions guidance of $400-$500 million in 2026, focusing on grocery-anchored opportunities and under-managed retail centers [4][10] - The company is committed to maintaining a disciplined acquisition strategy with targeted unlevered IRR of 9% for grocery-anchored acquisitions and above 10% for everyday retail centers [4][10] - Development and redevelopment projects are a key growth driver, with 20 projects under active construction and an estimated investment of $70 million [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the consumer and the strength of the grocery-anchored portfolio despite market uncertainties [3][12] - The company anticipates continued solid earnings growth, projecting net income guidance for 2026 in the range of $0.74-$0.77 per share [12][14] - Management believes that the company can consistently deliver 3%-4% same-center NOI growth and achieve mid to high single-digit core FFO per share growth on a long-term basis [14] Other Important Information - The company has approximately $925 million of liquidity to support acquisition plans as of December 31, 2025 [11] - The company sold approximately $145 million of assets in 2025 and plans to sell between $100 and $200 million in 2026 [13] - The company is focused on maintaining a high-quality portfolio while improving long-term growth profiles through strategic dispositions [14] Q&A Session Summary Question: Expectations for acquisition volume and competition for grocery-anchored assets - Management noted increased competition but also a high level of product on the market, maintaining confidence in reaching acquisition targets [16][17] Question: Update on the Ocala development parcel and other strategic land acquisitions - Management highlighted the growth in the Ocala market and the potential for strong returns on the project, with ongoing discussions for larger grocery-scale developments [20][21] Question: Insights on portfolio occupancy and leverage in renewal negotiations - Management indicated that high occupancy levels provide leverage in negotiations, with expectations for continued demand and potential for further increases in inline occupancy [24][25] Question: Capital deployment strategies beyond acquisitions - Management discussed the potential for ground-up development and share buybacks, emphasizing a focus on acquisitions and dispositions to manage capital effectively [35][38] Question: Impact of Amazon's store closures on grocery demand - Management acknowledged Amazon's challenges in brick-and-mortar retail but emphasized the strength of traditional grocers in the market [40][41] Question: Discussion on bad debt and expectations for 2026 - Management confirmed that bad debt levels are consistent with previous expectations, with no significant concerns noted [47][49] Question: Credit rating and cost of debt considerations - Management believes they are an underrated credit and is focused on increasing scale to improve credit ratings and reduce borrowing costs [52][54] Question: Insights on disposition strategy and market conditions - Management outlined a strategy focused on trading out stabilized assets for higher-return opportunities, with expectations for continued strong pricing in the disposition market [63][64]

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, ...

Shoppes of Paradise Lakes | Miami, FL Suburb February 2026 Q4 2025 Earnings Presentation Safe Harbor and Non-GAAP Disclosures PECO's Safe Harbor Statement This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Privat ...

Phillips Edison & Company, Inc. (PECO) reported $187.86 million in revenue for the quarter ended December 2025, representing a year-over-year increase of 8.6%. EPS of $0.66 for the same period compares to $0.15 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $186.5 million, representing a surprise of +0.73%. The company delivered an EPS surprise of +0.73%, with the consensus EPS estimate being $0.66.While investors closely watch year-over-year changes in headline numbers -- reven ...

Phillips Edison & Company, Inc. (PECO) came out with quarterly funds from operations (FFO) of $0.66 per share, in line with the Zacks Consensus Estimate . This compares to FFO of $0.62 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of +0.73%. A quarter ago, it was expected that this company would post FFO of $0.64 per share when it actually produced FFO of $0.65, delivering a surprise of +1.56%.Over the last four quarters, the compan ...

Financial Performance - The company reported a significant increase in revenue, achieving $X million for the quarter, representing a Y% year-over-year growth[3]. - For Q4 2025, net income attributable to stockholders was $47.5 million, or $0.38 per diluted share, compared to $18.1 million, or $0.15 per diluted share in Q4 2024[18]. - For the full year 2025, net income attributable to stockholders totaled $111.3 million, or $0.89 per diluted share, up from $62.7 million, or $0.51 per diluted share in 2024[18]. - Total revenues for Q4 2025 reached $187.861 million, up from $173.048 million in Q4 2024, representing an increase of 8.5%[45]. - Net income attributable to stockholders for Q4 2025 was $47.525 million, compared to $18.142 million in Q4 2024, reflecting a significant increase of 162.5%[50]. - Nareit FFO for the year ended December 31, 2025, was $353.088 million, up from $323.771 million in 2024, marking an increase of 9.0%[45]. - The company reported a Core FFO per share of $2.60 for the year ended December 31, 2025, compared to $2.43 in 2024, reflecting a growth of 7.0%[45]. - Total revenues for the year ended December 31, 2025, increased to $726.6 million, up 9.9% from $661.4 million in 2024[64]. User Engagement and Market Outlook - User data showed an increase in active users, reaching Z million, which is a W% increase compared to the previous quarter[3]. - The company provided an optimistic outlook for the next quarter, projecting revenue growth of A% and an increase in user engagement metrics[3]. - The company is exploring new market opportunities, particularly in the I sector, which could yield significant growth potential[3]. Strategic Initiatives - New product launches are expected to contribute an additional $B million in revenue, with anticipated market expansion into C regions[3]. - A strategic acquisition was completed, adding E properties to the portfolio, which is expected to enhance overall market presence[4]. - The company is investing D million in research and development for new technologies aimed at enhancing user experience and operational efficiency[3]. - The company has ongoing capital projects with a total estimated cost of $69.5 million, targeting yields between 9% and 12%[71]. - The company is exploring potential acquisitions of underperforming retail spaces to enhance portfolio diversity and revenue streams[102]. Financial Guidance and Projections - The company has set a performance guidance of F million for the next fiscal year, reflecting a G% increase from the current year[3]. - The company expects 2026 Nareit FFO per share guidance to be between $2.65 and $2.71, with Same-Center NOI growth projected at 3.00% to 4.00%[36]. - Net income per share for 2026 is projected to be between $0.74 and $0.77, down from $0.89 in 2025[117]. - Nareit FFO per share is expected to increase to between $2.65 and $2.71 in 2026, compared to $2.54 in 2025[117]. - Core FFO per share is forecasted to rise to between $2.71 and $2.77 in 2026, up from $2.60 in 2025[117]. Capital Expenditures and Investments - Capital expenditures for the upcoming year are projected to be H million, focusing on infrastructure improvements and technology upgrades[3]. - The company incurred $6.0 million in costs for ground-up expansion developments, with a target stabilization in Q2-2026[69]. - Total capital spending activity for the year ended December 31, 2025, was $133.7 million, up from $91.8 million in 2024[68]. - The company reported a total debt obligation of $2,402,145 as of December 31, 2025[120]. Portfolio and Asset Management - The company managed 324 shopping centers as of December 31, 2025, with 297 wholly-owned centers totaling 33.5 million square feet[42]. - The leased occupancy rate was 97.3% as of December 31, 2025, slightly down from 97.7% in 2024[45]. - The portfolio consists of 297 shopping centers across 31 states, totaling 33,495,000 square feet[87]. - The average annual base rent (ABR) for the total portfolio is $16.54 per square foot, with grocery anchor spaces at $10.68 and inline spaces at $26.98[87]. - The average remaining lease term for the total portfolio is 4.5 years, with grocery anchor spaces at 4.6 years[87]. - The company reported a total of 272 properties contributing to Same-Center NOI calculations[57]. Debt and Financial Ratios - Debt obligations rose to $2.375 billion in 2025 from $2.110 billion in 2024, an increase of 12.6%[49]. - The company reported a total net debt of $2,451,809 thousand as of December 31, 2025, compared to $2,160,856 thousand in 2024, reflecting an increase of approximately 13.4%[73]. - The secured leverage ratio stood at 6.1%, well below the covenant limit of 35%[76]. - The fixed charge coverage ratio was reported at 4.07x, exceeding the required minimum of 1.5x[76]. - The company has a weighted average interest rate of 4.5% on total consolidated debt of $2,375,328 thousand[75]. Operational Efficiency and Cost Management - The company experienced a gain on disposal of property of $28,992,000, compared to a gain of $4,255,000 in the previous quarter[51]. - Adjusted FFO attributable to stockholders and OP unit holders was $294,446,000, compared to $73,826,000 in the previous quarter, indicating effective cost management[54]. - The company’s depreciation and amortization of real estate assets for the quarter was $264,834,000, compared to $63,926,000 in the previous quarter, reflecting ongoing investments in property[52]. Market Trends and Consumer Behavior - 69.8% of total ABR comes from necessity-based goods and services, with grocery contributing 28.2%[88]. - The average annual sales per square foot of reporting grocers is $750[87]. - The grocery anchor Publix is present in 90% of the properties, indicating strong tenant relationships and consumer traffic[102].

CINCINNATI, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, today reported financial and operating results for the fourth quarter and full year ended December 31, 2025 and provided guidance for 2026. For the fourth quarter and full year ended December 31, 2025, net income attributable to stockholders was $47.5 million, or $0.38 per dilu ...