CINCINNATI, Feb. 06, 2025 (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, 2024 and provided guidance for 2025. For the fourth quarter and full year ended December 31, 2024, net income attributable to stockholders was $18.1 million, or $0.15 per dilu ...

Core Insights - Cohen & Steers Income Opportunities REIT, Inc. (CNSREIT) has acquired Oak Grove Shoppes, a grocery-anchored shopping center in Orlando, Florida, in partnership with Phillips Edison & Company (PECO) as part of a joint venture targeting $300 million in equity [1][5] - Oak Grove Shoppes spans 142,000 square feet, is 91% leased, and features a 48,000 square foot Publix grocery store and a Marshalls, among other tenants [2][3] - The Orlando market is experiencing significant growth, ranking in the top 10 U.S. cities for population and job growth, with a retail occupancy rate of 94% and a year-over-year retail rent growth of 7.5% in the Altamonte Springs submarket [3][4] Company Overview - CNSREIT focuses on investing in high-quality, income-generating properties in the U.S. and is externally managed by Cohen & Steers Capital Management, Inc. [6] - PECO is one of the largest operators of grocery-anchored shopping centers in the U.S., managing 311 shopping centers with a total of 32.9 million square feet across 31 states as of September 30, 2024 [8]

Tax Reporting Information - The company announced its tax reporting information for the 2024 distributions to holders of its common stock, detailing per-share distributions for each quarter [1] - The total distribution per share was $0.097500 for the first nine months of 2024, increasing to $0.102500 for the last three months [1] - Ordinary dividends accounted for $0.075454 per share for the first nine months and $0.079324 for the last three months [1] - The return of capital (nontaxable distribution) was $0.022046 per share for the first nine months and $0.023176 for the last three months [1] - No capital gain distributions were reported for any period in 2024 [1] Company Overview - The company is one of the largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers in the US [4] - Founded in 1991, the company operates a vertically-integrated platform with a national footprint of well-occupied shopping centers [4] - As of September 30, 2024, the company managed 311 shopping centers, including 290 wholly-owned centers comprising 32.9 million square feet across 31 states [4] - The company's top grocery anchors include Kroger, Publix, Albertsons, and Ahold Delhaize [4] Investor Relations - The company uses its Investors website as a primary means of disclosing material nonpublic information and complying with Regulation FD [5] - Investors can contact the company via email at InvestorRelations@phillipsedison.com [6]

CINCINNATI, Jan. 09, 2025 (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 announced the closing of the second amendment to its unsecured revolving credit facility (the "Revolving Credit Facility"). The amendment increases the size of the Revolving Credit Facility to $1.0 billion (from $800 million) and extends the maturity date to January 9, 202 ...

CINCINNATI, Jan. 09, 2025 (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 announced the closing of the second amendment to its unsecured revolving credit facility (the “Revolving Credit Facility”). The amendment increases the size of the Revolving Credit Facility to $1.0 billion (from $800 million) and extends the maturity date to January 9, 20 ...

CINCINNATI, Jan. 08, 2025 (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, will announce its Fourth Quarter and Full Year 2024 earnings results on Thursday, February 6, 2025, after the market closes. PECO's earnings release and supplemental information package will be posted on the Investor Relations section of the Company's website at https://investor ...

CINCINNATI, Jan. 08, 2025 (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, will announce its Fourth Quarter and Full Year 2024 earnings results on Thursday, February 6, 2025, after the market closes. PECO’s earnings release and supplemental information package will be posted on the Investor Relations section of the Company’s website at https://investo ...

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) has successfully completed over $300 million in acquisitions in 2024, exceeding its revised guidance, and aims for continued growth in the shopping center sector through strategic investments [2][4]. Transaction Activity - In the fourth quarter of 2024, PECO acquired several shopping centers, focusing on increasing occupancy and rent growth, with no dispositions reported during this period [3]. - For the entire year of 2024, PECO acquired 14 shopping centers and four land parcels for approximately $306 million, which includes joint venture assets [4]. Company Overview - PECO is one of the largest owners and operators of grocery-anchored neighborhood shopping centers in the U.S., managing 311 shopping centers as of September 30, 2024, with a total of 32.9 million square feet across 31 states [5]. - The company features a mix of national and regional retailers, with top grocery anchors including Kroger, Publix, Albertsons, and Ahold Delhaize [5]. - PECO's strategy focuses on creating omni-channel shopping experiences and enhancing community value through its shopping centers [5].

CINCINNATI, Jan. 07, 2025 (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 announced transaction activity for the three months ended December 31, 2024. Management Commentary Jeff Edison, Chairman and Chief Executive Officer of PECO stated: “We are pleased to have completed over $300 million in acquisitions in 2024, which was above the midpoint o ...

Investors might want to bet on Phillips Edison & Company, Inc. (PECO) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by ...