Phillips Edison & Company(US:PECO)2025-10-24 16:00Company Overview - PECO's portfolio consists of 300+ properties, primarily anchored centers, totaling 34 million square feet with 98% occupancy[5] - The company's total enterprise value is over $72 billion[7] - 84% of PECO's annualized base rent (ABR) comes from 1 or 2 grocery anchors by sales[7] - The portfolio retention rate is 94%[7] Strategy and Performance - 95% of PECO's ABR is derived from grocery-anchored neighborhood centers[13] - 70% of ABR comes from necessity-based goods and services retailers[22] - PECO's Q3 2025 saw record-high renewal rent spreads of 232%[28] - The company anticipates 2025 Nareit FFO per share growth of 68% at the guidance midpoint[31] - PECO's 2024 grocer sales per square foot (PSF) growth was +50% over 2023[43] Portfolio and Financials - PECO targets $350 million to $450 million in gross acquisitions per year[69] - The company estimates total investment in active development projects at $76 million, with an average estimated yield between 9% and 12%[68] - PECO has a significant liquidity position of $977 million[79]