Phillips Edison & Company, Inc. - PECO STOCK NEWS

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.

Phillips Edison & Company (PECO), a major owner of grocery-anchored shopping centers, has released its anticipated retail trends for 2025. Key trends include: holistic health with brands like SweatHouz and Squeeze Massage expanding; specialty sweets and treats with dessert shop openings up 50% from May 2023 to April 2024; growth in pet retail and services ('PetTail'); adaptation of large national retailers to suburban locations; continued strength of grocery's halo effect with average families visiting grocery stores 1.6 times weekly; and increasing variety in quick-service restaurants (QSR) with brands like Cava and Sweetgreen.