Welcome to our dedicated page for Phillips Edison & Company news (Ticker: PECO), a resource for investors and traders seeking the latest updates and insights on Phillips Edison & Company stock.
Company Overview
Phillips Edison & Company, Inc. (PECO) is a well-established real estate investment trust (REIT) specializing in grocery-anchored neighborhood shopping centers. Since its founding in 1991, PECO has built a national reputation for managing high-quality retail properties through a vertically integrated operating platform. This platform is designed to optimize property performance by managing the entire lifecycle of each asset, from acquisition and redevelopment to leasing and day-to-day management. Industry keywords such as grocery-anchored shopping centers and integrated operating platform underscore PECO’s commitment to ensuring a superior retail experience in fundamentally strong markets.
Core Business and Operating Model
At its core, PECO invests in, develops, and operates retail centers anchored by essential grocery retailers. The company’s integrated model not only encompasses property management and redevelopment but also extends to third-party investment management services. These services include comprehensive property management and advisory functions for joint ventures and private funds in which the company holds partial ownership. This holistic approach allows PECO to drive operational efficiencies and enhance the intrinsic value of its assets.
Integrated Operating Platform
The strength of PECO’s business lies in its fully integrated in-house operating platform. This platform enables PECO to align all aspects of retail center management under one roof—from strategic property acquisitions to ongoing tenant services and leasing negotiations. The company’s emphasis on maintaining high occupancy rates, optimizing rental income, and ensuring tenant satisfaction has led to robust operational performance across its nationally diversified portfolio.
Portfolio and Market Footprint
PECO’s portfolio spans a wide geographic footprint across the United States, with properties located in diverse suburban markets. The company focuses on shopping centers anchored by top-tier grocery retailers. This not only adds stability to rental income streams but also provides consistent value creation through both operational enhancements and property repositioning. The portfolio’s composition—ranging from neighborhood centers to community retail hubs—ensures that PECO operates in markets with strong demographic and economic fundamentals.
Property Management and Leasing Expertise
In an industry where market demands are continuously evolving, PECO’s hands-on approach to property management and leasing is a significant differentiator. The company’s experienced management team uses a combination of advanced market analytics and localized expertise to guide its leasing strategy, redevelopment projects, and tenant mix optimization. By ensuring that grocery anchors are complemented by an appropriate mix of inline retailers, PECO enhances the overall shopping experience, which in turn drives consumer traffic and stabilizes cash flows.
Third-Party Investment Management and Advisory Services
Beyond its own portfolio, PECO extends its specialized expertise to external investors through its third-party investment management arm. This division provides advisory services, property management, and strategic planning to institutional joint ventures and private funds. By leveraging its proven operating platform, the company assists institutional partners in achieving efficient asset management and sustainable growth, thereby reinforcing its reputation as a trusted expert in the retail real estate sector.
Industry Expertise and Competitive Positioning
PECO’s veteran management team brings decades of industry experience to the table, ensuring that the company stays ahead in a competitive market. The company’s focus on grocery-anchored retail assets enables it to capitalize on the inherent stability of necessity-based retail, particularly in suburban neighborhoods. Its commitment to a detailed, operationally driven strategy positions PECO favorably against other REITs that may have a broader focus but less specialized expertise in this niche segment.
Value Creation and Operational Excellence
The company consistently prioritizes strategies that enhance property value over the long term. Through targeted leasing initiatives, proactive asset management, and selective redevelopment projects, PECO reinforces its market position and drives incremental growth in property performance. Its model is built around the philosophy that a superior shopping experience is achieved not only by maintaining occupancy levels but also by fostering tenant relationships and optimizing the overall asset lifecycle.
Robust Business Infrastructure
Underpinned by strong corporate offices located in major cities such as Cincinnati, Salt Lake City, New York City, and Atlanta, PECO ensures that its operational strategies are well coordinated and responsive to local market dynamics. This structured business infrastructure is key to managing a diverse portfolio and executing complex transactions with precision. The company’s infrastructure supports its initiatives in redevelopment, leasing, and strategic acquisitions, thereby enhancing its ability to deliver reliable operational outcomes.
Commitment to a Seamless Omni-Channel Experience
In today’s dynamic retail environment, delivering a seamless omni-channel experience is vital. PECO’s integrated operating platform is designed to support both traditional in-person shopping and emerging digital trends, ensuring that its properties remain relevant in a rapidly evolving market. Through meticulous property management and strategic tenant selection, PECO creates environments that are both accessible and adaptable, fortifying its long-term operational resiliency.
Conclusion
Phillips Edison & Company, Inc. stands out in the competitive landscape of retail real estate due to its specialized focus on grocery-anchored shopping centers and its commitment to operational excellence. With a deep-rooted expertise in property management, leasing, and redevelopment, PECO continues to optimize property value while delivering enhanced shopping experiences across its national portfolio. This comprehensive approach to managing retail assets not only reinforces its market position but also demonstrates a level of experience and authoritativeness that is respected within the industry.
- Key Strengths: Integrated operating platform, specialized focus on grocery anchors, experienced management team.
- Market Approach: Emphasis on suburban shopping centers with high occupancy rates and robust tenant mixes.
- Operational Excellence: Proactive asset management from acquisition and redevelopment to leasing and tenant services.
- Advisory Services: Comprehensive third-party investment management and property advisory services for joint ventures.
This overview encapsulates the strengths and comprehensive market approach of PECO—emphasizing its commitment to value creation through operational robustness and industry-specific expertise. It is designed to provide an enduring and unbiased reference for investors seeking to understand the company’s multifaceted operations and competitive positioning in the retail real estate market.
Phillips Edison & Company (PECO), a leading owner and operator of grocery-anchored neighborhood shopping centers, has scheduled its First Quarter 2025 earnings conference call for Friday, April 25, 2025, at 12:00 p.m. ET. The earnings results will be released on Thursday, April 24, 2025, after market close.
The conference call will be hosted by Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield. Investors can access the call through toll-free (1-800-715-9871) or toll (1-646-307-1963) numbers using Conference ID 4551083. The earnings release and supplemental information will be available on the company's investor relations website, with a webcast replay accessible approximately one hour after the presentation.
Phillips Edison & Company (Nasdaq: PECO), a leading owner of grocery-anchored neighborhood shopping centers, has announced its participation in Citi's 2025 Global Property CEO Conference. The company's leadership team, including Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield, will join a roundtable presentation scheduled for Tuesday, March 4, 2025, from 4:20 PM to 4:55 PM ET.
The presentation will be accessible through a webcast, with materials being made available on PECO's Investor Relations website. A replay option will be provided approximately one hour after the presentation concludes.
Phillips Edison & Company (PECO), a leading owner of grocery-anchored shopping centers, has announced a PECO GROW Update webcast scheduled for February 25, 2025, at 12:00 p.m. ET. The event is specifically designed for financial advisors and retail investors.
The presentation will feature Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield, who will discuss business operations and participate in a Q&A session. The webcast will be accessible via both toll-free (1-800-715-9871) and international (1-646-307-1963) dial-in numbers, with Conference ID 5434174.
The PECO GROW presentation materials will be available on the company's Investor Relations website, and an audio replay will be accessible approximately one hour after the event concludes through the same webcast link.
Phillips Edison & Company (PECO), a leading owner and operator of grocery-anchored neighborhood shopping centers, has announced its monthly dividend distributions. The company's Board of Directors has declared a dividend of $0.1025 per share of common stock, payable on two dates:
- April 1, 2025 (for stockholders of record as of March 17, 2025)
- May 1, 2025 (for stockholders of record as of April 15, 2025)
Operating partnership unit holders will receive distributions at the same rate as common stockholders, subject to required tax withholding.
Phillips Edison & Company (PECO) reported strong financial results for Q4 and full year 2024. The company achieved Q4 net income of $18.1 million ($0.15 per share) and full-year net income of $62.7 million ($0.51 per share). Core FFO grew 10.2% to $85.8 million ($0.62 per share) in Q4, and 6.8% to $331.8 million ($2.43 per share) for the full year.
Notable operational highlights include a 6.5% increase in Q4 same-center NOI to $110.4 million and strong portfolio metrics with 97.7% leased occupancy. The company executed impressive lease spreads with 30.2% for new leases and 20.8% for renewals in Q4. PECO acquired fourteen shopping centers and four land parcels for $305.7 million in 2024.
The company maintains a strong balance sheet with $747.6 million in total liquidity and 93% fixed-rate debt. PECO successfully upsized its revolving credit facility to $1.0 billion with maturity extended to January 2029.
Cohen & Steers Income Opportunities REIT (CNSREIT) and Phillips Edison & Company (NASDAQ: PECO) have announced their acquisition of Oak Grove Shoppes, a grocery-anchored shopping center in Orlando, Florida. This marks their second acquisition in a $300 million equity joint venture, with CNSREIT owning 80% and PECO 20%.
The 142,000 square foot open-air shopping center, redeveloped in 2023, is located in the Altamonte Springs submarket, nine miles from downtown Orlando. The center is 91% leased, anchored by a 48,000 square foot Publix grocery store and Marshalls, along with various food, healthcare, and childcare tenants.
The property is situated in Orlando's high-growth market, ranking in the top 10 U.S. cities for five-year population and job growth. The Altamonte Springs submarket demonstrates strong fundamentals with a 94% retail occupancy rate and 7.5% year-over-year retail rent growth.
Phillips Edison & Company (PECO), a major owner of grocery-anchored shopping centers, has released its tax reporting information for 2024 distributions to common stockholders. The company paid monthly distributions throughout 2024, with payments of $0.0975 per share from January through September, increasing to $0.1025 per share for October through December.
Each distribution was consistently structured with approximately 77.4% classified as ordinary dividends and 22.6% as return of capital (nontaxable distribution). All ordinary dividend amounts qualify as Section 199A distributions. The company reported no capital gain distributions or unrecaptured Section 1250 gains for the year.
Phillips Edison & Company (PECO) has announced significant amendments to its unsecured revolving credit facility. The facility has been increased from $800 million to $1.0 billion and its maturity extended to January 9, 2029, with options for two additional six-month extensions.
The company can further increase the facility or incur new term loans by up to $500 million and increase the existing term loan by up to $200 million, subject to syndication. Borrowings will initially bear interest at SOFR plus 86.5 basis points, an improvement from the previous rate of SOFR plus 94 basis points. An annual facility fee of 15 basis points applies, with both rates subject to adjustment based on credit ratings, leverage ratio, and sustainability metrics.
The syndication is led by PNC Bank Capital Markets and KeyBanc Capital Markets as Joint Bookrunners and Joint Lead Arrangers, with participation from several major financial institutions.
Phillips Edison & Company (PECO), a major owner-operator of grocery-anchored neighborhood shopping centers, has scheduled its Fourth Quarter and Full Year 2024 earnings announcement for Thursday, February 6, 2025, after market close. The company will host an earnings conference call and webcast on Friday, February 7, 2025, at 12:00 p.m. ET.
The earnings presentation will be led by Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield. The earnings release and supplemental information package will be available on PECO's Investor Relations website. Investors can participate via phone using toll-free (800) 715-9871 or toll (646) 307-1963 with Conference ID 4551083, or through the webcast. A replay will be available approximately one hour after the presentation.
Phillips Edison & Company (PECO) has announced its transaction activity for Q4 2024, highlighting over $300 million in acquisitions throughout 2024. The company acquired 14 shopping centers and four land parcels, exceeding the midpoint of their upwardly revised guidance.
Q4 acquisitions included: Shops at Cross Creek (24,188 sq ft) in Houston, Harpers Station (229,060 sq ft) anchored by Fresh Thyme in Cincinnati, Lakeland Village Center (83,542 sq ft) in Houston, and Northpark Plaza (52,192 sq ft) anchored by King Soopers in Denver.
PECO targets an unlevered IRR of 9% for acquisitions and plans to drive value through occupancy increases, rent growth, and potential future development of ground-up outparcel retail spaces. No dispositions were reported for the quarter.
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