Phillips Edison & Company, Inc. - PECO STOCK NEWS

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.

Phillips Edison & Company (PECO), a leading owner of grocery-anchored shopping centers, has announced a virtual Business Update scheduled for Thursday, December 19, 2024, at 11:30 a.m. Eastern Time. The webcast event will feature presentations from Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield, who will discuss the company's strategy, long-term growth opportunities, and business matters. The session will include a live Q&A, and a replay will be available within 24 hours on the company's investor relations website.

Phillips Edison & Company (PECO), a major owner-operator of grocery-anchored neighborhood shopping centers, has announced its monthly dividend distribution. The company will pay $0.1025 per share of common stock on December 3, 2024; January 3, 2025; February 4, 2025; and March 4, 2025. Stockholders must be on record by November 15, 2024; December 16, 2024; January 15, 2025; and February 18, 2025, respectively. Operating partnership unit holders will receive equivalent distributions, subject to required tax withholding.

Phillips Edison & Company (PECO) reported strong Q3 2024 financial results with net income of $11.6 million ($0.09 per diluted share). Key highlights include Core FFO of $84.4 million ($0.62 per diluted share), representing a 9.6% increase year-over-year. The company updated its 2024 guidance, projecting Core FFO of $2.40-$2.44 per diluted share and same-center NOI growth of 3.50-4.00%. Portfolio performance remained robust with 97.8% leased occupancy and record-high new lease rent spreads of 55.0%. During Q3, PECO acquired five shopping centers and two land parcels for $95.7 million, and completed a $350 million senior notes offering at 4.950%.

Phillips Edison & Company, Inc. (Nasdaq: PECO), a leading owner and operator of grocery-anchored neighborhood shopping centers, has announced its upcoming Third Quarter 2024 earnings release. The company will disclose its financial results on Thursday, October 24, 2024, after market close. PECO's earnings release and supplemental information will be available on the company's Investor Relations website.

An earnings conference call and webcast are scheduled for Friday, October 25, 2024, at 12:00 p.m. ET. The call will be hosted by Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield. Investors can participate via phone or webcast, with replay options available. For more information and updates, interested parties can follow PECO on various social media platforms or visit their official website.

Phillips Edison & Company (PECO), a major owner of grocery-anchored shopping centers, is set to host a PECO GROW Update for financial advisors and retail investors on September 18, 2024, at 12:00 p.m. ET. The webcast will feature discussions about the business and a Q&A session led by CEO Jeff Edison, President Bob Myers, and CFO John Caulfield.

Participants can join via a toll-free number (1-800-715-9871) or international number (1-646-307-1963) using the conference ID 5434174. The presentation will be available on PECO's Investor Relations website, and an audio replay will be accessible after the event. This update provides an opportunity for stakeholders to gain insights into PECO's operations and future plans.

Phillips Edison & Company (Nasdaq: PECO) has announced the pricing of a $350 million public offering of 4.950% senior unsecured notes due 2035 through its operating partnership. The notes, priced at 98.458% of the principal amount, are set to mature on January 15, 2035. The offering is expected to close on September 12, 2024. PECO intends to use the net proceeds for various corporate purposes, including property acquisitions, debt repayment, capital expenditures, and property improvements. The offering is being made through a shelf registration statement filed with the SEC, with several major financial institutions acting as joint book-running managers.

Phillips Edison & Company (Nasdaq: PECO) has received a credit rating upgrade from Moody's Ratings. The company's issuer credit rating has been raised to 'Baa2' from 'Baa3', with a stable outlook. Moody's cited PECO's high-quality portfolio of grocery-anchored shopping centers, resilient operating cash flows, and moderate leverage metrics as key factors in the upgrade.

The rating agency highlighted PECO's consistently high portfolio lease rate, averaging 97.5% in the last four quarters, and solid leasing spreads of 28% during the same period. Moody's expects PECO to maintain strong operating performance despite the slowing macroeconomic environment, due to its portfolio mix.