Phillips Edison & Co Inc

Phillips Edison & Co., Inc. is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also engages in investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services. The company was founded by Jeffrey S. Edison and Michael C. Phillips in 1991 and is headquartered in Cincinnati, OH.

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PECO reports robust growth in 2022, eyes sustainable expansion

PECO's strong financial performance and strategic focus on grocer-anchored centers position it for continued growth.
Challenges in managing debt, addressing maturities, and potential economic headwinds require careful planning.
Opportunities in outparcel development, tenant diversification, and sustainable growth strategies offer avenues for expansion.

PECO excels in Q1 with record occupancy and strategic growth

PECO delivered a strong quarter with notable financial performance and strategic achievements.
The company's focus on necessity-based goods, strong leasing spreads, and diverse portfolio positions it well for growth.
Challenges include deal activity, term loan maturities, and managing seasonality impacts.
Opportunities lie in backfilling spaces, optimizing occupancy levels, and negotiating rent bumps for revenue growth.

Phillips Edison & Co Inc (PECO) reports record performance and growth outlook

PECO's Q2 2023 earnings call highlighted strong operational performance, strategic focus on grocery-anchored centers, and positive outlook on financial metrics. The company aims for continued growth through internal strategies, acquisitions, and prudent financial management amidst market challenges and opportunities.

Phillips Edison & Co Inc (PECO) reports strong Q3 performance and strategic growth focus

Phillips Edison & Co Inc (PECO) Q3 2023 Earnings Call reflects solid performance, strategic focus on core assets, and commitment to growth strategies. The company navigates challenges while capitalizing on opportunities in the market.

PECO reports strong 2023 growth, eyes acquisitions for future expansion

PECO's robust financial performance in 2023, driven by strategic acquisitions and strong operational metrics, positions the company for continued growth. Despite facing interest rate challenges, PECO remains optimistic about its long-term outlook and growth prospects.

PECO reports solid Q1 earnings, eyes growth amid debt challenges

PECO's strong Q1 performance and proactive growth strategy position the company well for the year ahead. Operational strengths in leasing and occupancy, coupled with a disciplined approach to acquisitions, offer growth opportunities. Challenges in managing bad debt and leverage require careful navigation.

PECO reports robust Q2 earnings, eyes expansion through strategic acquisitions

PECO's Q2 performance showcased strong growth and financial stability. The company's focus on grocery-anchored centers and strategic acquisitions is driving success. Addressing challenges and seizing growth opportunities will be key for future performance.

Phillips Edison & Co Inc (PECO) reports strong Q3 performance and growth outlook

Overall, Phillips Edison & Co Inc (PECO) showcased strong operating performance, balance sheet strength, and a positive outlook for future growth. The company's focus on acquisitions, lease renewals, and strategic balance sheet management were key highlights of the earnings call.

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Phillips Edison & Co., Inc. is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services. The company was founded by Jeffrey S. Edison and Michael C. Phillips in 1991 and is headquartered in Cincinnati, OH.

CINCINNATI, July 01, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that on June 25, 2024, its Board of Directors (the “Board”) increased the size of the Board from nine to 10 members and appointed Devin Murphy to the Board, effective July 2, 2024.

Phillips Edison & Company Announces Appointment of Devin Murphy to Board of Directors

CINCINNATI, June 17, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, will announce its Second Quarter 2024 earnings results on Thursday, July 25, 2024, 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://investors.phillipsedison.com/. Chairman and Chief Executive Officer Jeff Edison, President Bob Myers and Chief Financial Officer John Caulfield will host an earnings conference call, which will also be webcasted, on Friday, July 26, 2024, at 12:00 p.m. ET.

Phillips Edison & Company Inc. Invites You to Join Its Second Quarter 2024 Earnings Conference Call

CINCINNATI, May 29, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Jeff Edison, Chairman and Chief Executive Officer will present at Nareit REITweek on Wednesday, June 5, 2024 at 3:30 p.m. Eastern Time.

Phillips Edison & Company to Present at Nareit REITweek 2024 Investor Conference

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Shopping centers have experienced a lack of development in the last 15 years, leading to full occupancy. The feedback mechanisms that usually regulate real estate cycles may not work in shopping centers, allowing for a prolonged period of outsized growth. Rental rates in shopping centers are still below the level needed for development to become viable, indicating a potential golden age for the sector.

The Shopping Center Golden Age Has Longevity

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U.S. equity markets climbed to fresh record highs, while benchmark interest rates dipped to one-month lows after a critical slate of inflation and retail sales data showed an unexpected cooldown. Reflecting the mounting quantity of downside economic surprises, the Citi Economic Surprise Index dipped to the lowest level since early 2023, indicating a rather abrupt reversal in economic momentum. Mildly encouraging inflation news and sluggish retail sales data lifted bets that the Fed can cut rates multiple times this year. Climbing to fresh record highs, the S&P 500 gained 1.6%.

Surprise Spring Slowdown

CINCINNATI, May 08, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that its operating partnership, Phillips Edison Grocery Center Operating Partnership I, L.P. (the “Operating Partnership”), has priced a public offering of $350 million aggregate principal amount of 5.750% senior unsecured notes due 2034 (the “Notes”). The Notes were priced at 98.576% of the principal amount and will mature on July 15, 2034. The offering is expected to settle on May 13, 2024, subject to the satisfaction of customary closing conditions. The notes will be fully and unconditionally guaranteed by PECO.

Phillips Edison & Company Announces Pricing of Offering of $350 Million Aggregate Principal Amount of 5.750% Senior Unsecured Notes Due 2034

Phillips Edison is relatively overvalued compared to its peers in the shopping center sector. PECO has solid fundamentals and steady growth, but its properties are less impressive and it is in the later stages of growth. PECO's high occupancy limits its future growth potential compared to other shopping center REITs with lower occupancy rates.

Phillips Edison: Less Remaining Growth Than Peers

CINCINNATI, April 30, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that its Board of Directors declared monthly dividend distributions of $0.0975 per share of the Company's common stock payable on June 4, 2024; July 2, 2024; and August 1, 2024 to stockholders of record as of May 15, 2024; June 17, 2024; and July 15, 2024, respectively. Operating partnership unit holders receive distributions at the same rate as common stockholders, subject to the required tax withholding.

Phillips Edison & Company Declares Monthly Dividend Distributions; Announces Results of Annual Meeting of Stockholders

Phillips Edison & Company, Inc. (NASDAQ:PECO ) Q1 2024 Earnings Conference Call April 26, 2024 ET Company Participants Kimberly Green - Head of IR Jeff Edison - CEO Bob Myers - President John Caulfield - CFO Conference Call Participants Caitlin Burrows - Goldman Sachs Lizzy Doykan - Bank of America Ronald Kamden - Morgan Stanley Ravi Vaidya - Mizuho Michael Mueller - JPMorgan Juan Sanabria - BMO Capital Markets Dori Kesten - Wells Fargo Tayo Okusanya - Deutsche Bank Todd Thomas - KeyBanc Capital Operator Good day, and welcome to Phillips Edison & Company First Quarter 2024 Earnings Call. Please note this call is being recorded.

Phillips Edison & Company, Inc. (PECO) Q1 2024 Earnings Call Transcript

The headline numbers for Phillips Edison & Company (PECO) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Phillips Edison & Company (PECO) Reports Q1 Earnings: What Key Metrics Have to Say

CINCINNATI, April 25, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today reported financial and operating results for the period ended March 31, 2024 and affirmed full year 2024 earnings guidance. For the three months ended March 31, 2024, net income attributable to stockholders was $17.7 million, or $0.14 per diluted share.

Phillips Edison & Company Reports First Quarter 2024 Results and Affirms Full Year Earnings Guidance

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The US economy is experiencing conflicting trends, with job gains being driven by immigration while native-born Americans are leaving the workforce. The manufacturing sector may be experiencing a rebound due to government subsidies rather than fundamental economic growth. Commercial real estate has not crashed as expected, with lenders extending loans and delaying the marking down of property values.

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CINCINNATI, March 27, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, will announce its First Quarter 2024 earnings results on Thursday, April 25, 2024, 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://investors.phillipsedison.com/. Chairman and Chief Executive Officer Jeff Edison, President Bob Myers and Chief Financial Officer John Caulfield will host an earnings conference call, which will also be webcasted, on Friday, April 26, 2024, at 12:00 p.m. ET.

Phillips Edison & Company Inc. Invites You to Join Its First Quarter 2024 Earnings Conference Call

Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers

Moody's Upgrades Phillips Edison & Company's Rating Outlook to ‘Positive' from ‘Stable'

CINCINNATI, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that the Company will participate in a roundtable presentation at Citi's 2024 Global Property CEO Conference on Monday, March 4, 2024 at 8:10 a.m. Eastern Time.

Phillips Edison & Company to Present at Citi's 2024 Global Property CEO Conference

CINCINNATI, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that its Board of Directors declared monthly dividend distributions of $0.0975 per share of the Company's common stock payable on April 1, 2024 and May 1, 2024 to stockholders of record as of March 15, 2024 and April 15, 2024, respectively.

Phillips Edison & Company Declares Monthly Dividend Distributions

CINCINNATI, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, will host a PECO GROW Update for financial advisors and retail investors on Thursday, February 29, 2024, at 12:00 p.m. ET. During the webcast, PECO will discuss the business and answer questions from financial advisors and retail investors.

Phillips Edison & Company to Host PECO GROW Update for Financial Advisors and Retail Investors on February 29

Phillips Edison & Company is a grocery-anchored shopping center that provides a monthly dividend payout. PECO's defensive characteristics include its strong portfolio metrics, resilient demand drivers, and well-covered monthly distribution. Along with better-than-expected quarterly results, the Company recently increased its full-year outlook for fiscal 2024.

Phillips Edison: Defensive Monthly Dividend Payer, Shares Fairly Valued

Phillips Edison & Company, Inc. (PECO) Q4 2023 Earnings Call Transcript

Although the revenue and EPS for Phillips Edison & Company, Inc. (PECO) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Here's What Key Metrics Tell Us About Phillips Edison & Company, Inc. (PECO) Q4 Earnings

CINCINNATI, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today reported financial and operating results for the period ended December 31, 2023 and increased full year 2024 earnings guidance. For the fourth quarter and year ended December 31, 2023, net income attributable to stockholders was $13.5 million, or $0.11 per diluted share, and $56.8 million, or $0.48 per diluted share, respectively.

Phillips Edison & Company Reports Fourth Quarter and Full Year 2023 Results; Increases 2024 Guidance

CINCINNATI, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced its tax reporting information for the 2023 dividend distributions to holders of its common stock.

Phillips Edison & Company Announces Tax Reporting Information for 2023 Dividend Distributions

CINCINNATI, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that it has entered into an interest rate swap agreement totaling $150.0 million.

Phillips Edison & Company Announces Execution of Interest Rate Swap

CINCINNATI, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that S&P Global Ratings (“S&P”) revised its rating outlook for PECO to ‘Positive' from ‘Stable' and affirmed the Company's ratings, including the ‘BBB-' Issuer Credit Rating.

S&P Upgrades Phillips Edison & Company's Rating Outlook to ‘Positive' from ‘Stable'

CINCINNATI, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation's largest owners and operators of grocery-anchored neighborhood shopping centers, will announce its Fourth Quarter and Full Year 2023 earnings results on Thursday, February 8, 2024, 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://investors.phillipsedison.com/. Chairman and Chief Executive Officer Jeff Edison, President Bob Myers, Managing Director Devin Murphy and Chief Financial Officer John Caulfield will host an earnings conference call, which will also be webcast, on Friday, February 9, 2024, at 12:00 p.m. ET.

News for Phillips Edison & Co Inc Stock (PECO)