Phillips Edison & Company Provides Update on Fourth Quarter 2024 Transaction Activity; Completes Over $300 Million in Net Acquisitions in 2024

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].