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 ...

It was a good time to buy Phillips Edison & Company (NASDAQ: PECO ) back in November 2023, when the current yield stood above 3.7% and the growth outlook seemed robust enough to deliver strong total return performance. Since then, PECO has registered more thanFull time trader and investor. Instead of lengthy and boring articles, I prefer writing concise arguments about value stocks. My goal is to identify great entry levels. Prices that you can remember years later and say "it was a great time to buy". My f ...

CINCINNATI, Nov. 04, 2024 (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 host a virtual Business Update on Thursday, December 19, 2024 at 11:30 a.m. Eastern Time. The event will be webcast only. Chairman and Chief Executive Officer Jeff Edison, President Bob Myers and Chief Financial Officer John Caulfield will provide an update on the Company' ...

Financial Data and Key Metrics Changes - Same center NOI increased by 3.2% [3] - Nareit FFO per share grew by 9.1% [3] - Core FFO per share increased by 6.9% [3] - NAREIT FFO for Q3 2024 was $81.6 million or $0.60 per diluted share, a 12.5% increase [18] - Core FFO for Q3 2024 was $84.4 million or $0.62 per diluted share, a 9.6% increase [18] - Year-to-date acquisitions totaled $211 million [6] Business Line Data and Key Metrics Changes - Portfolio occupancy ended at 97.8%, a sequential increase of 30 basis points [8] - Anchor occupancy increased to 99.4%, up 60 basis points [8] - Inline occupancy ended at 95% [8] - Comparable new rent spreads for Q3 were 55% [9] - Inline new rent spreads were 28.3% [9] - Renewal rent spreads increased by 19.8% [11] Market Data and Key Metrics Changes - PECO's centers experienced approximately 30,000 average trips per week, totaling nearly 500 million trips in the last 12 months [13] - The average population in PECO's three-mile trade area is 67,000, with a median household income of $87,000, which is 12% higher than the US median [14] - 70% of rent comes from necessity-based goods and services [14] Company Strategy and Development Direction - The company focuses on acquiring high-quality, grocery-anchored neighborhood shopping centers [4] - PECO aims to invest $40 million to $50 million annually in ground-up development and repositioning opportunities [17] - The company is optimistic about growth opportunities and plans to increase acquisition guidance to $275 million to $325 million for the year [6][20] Management's Comments on Operating Environment and Future Outlook - Management noted strong retailer demand with no signs of slowing down [7] - The company is well-positioned to take advantage of growth opportunities and has a strong balance sheet with no meaningful maturities until 2027 [6][19] - Management expects solid earnings growth in 2025 and beyond [6][19] Other Important Information - PECO acquired nine shopping centers and several land parcels year-to-date [6] - The company has a strong liquidity position with approximately $752 million available [18] - Management reaffirmed guidance for same-center NOI growth, indicating continued strong operating conditions [20] Q&A Session Summary Question: Can you talk about the acquisitions made during the quarter? - Management noted that they acquired six properties, with three anchored by King Soopers, Pete's, and Big Y, and highlighted the quality and development opportunities of these assets [24][25] Question: What are your views on the restaurant category? - Management observed that quick-service restaurants are performing well, with strong demand for new locations, while formal sit-down restaurants have been more volatile [27] Question: Can you provide details on bad debt? - Bad debt was reported at 86 basis points year-to-date, with management expressing confidence in the health of their tenants and the ability to re-lease spaces effectively [29][30] Question: What is the outlook for same-store NOI? - Management expects an acceleration in same-store NOI growth in the fourth quarter, driven by strong demand and recovery timing [32][33] Question: How are you planning to fund acquisitions? - Management indicated that they have over $750 million in liquidity and are comfortable funding upcoming acquisitions, considering equity if it is accretive [62]

For the quarter ended September 2024, Phillips Edison & Company, Inc. (PECO) reported revenue of $165.53 million, up 8.6% over the same period last year. EPS came in at $0.62, compared to $0.10 in the year-ago quarter.The reported revenue represents a surprise of +0.07% over the Zacks Consensus Estimate of $165.41 million. With the consensus EPS estimate being $0.61, the EPS surprise was +1.64%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expec ...