Phillips Edison & Company, Inc. - PECO STOCK NEWS

Phillips Edison & Company (PECO), a leading owner of grocery-anchored shopping centers, will present at the Citi 2022 Global Property CEO Conference on March 8, 2022, at 3:30 p.m. Eastern Time. Key speakers include CEO Jeff Edison, President Devin Murphy, and CFO John Caulfield. The presentation will be web streamed, and additional company information will be available on their investor website. PECO manages 289 shopping centers across 31 states, focusing on creating omni-channel shopping experiences with major grocery anchors like Kroger and Publix.

Phillips Edison & Company (PECO) reported a net loss of $5.2 million, or $0.05 per diluted share, for Q4 2021, while achieving an annual net income of $15.1 million, or $0.15 per diluted share. Key highlights include a 15.2% increase in same-center NOI and a record 96.3% occupancy rate. The company acquired $219.1 million in grocery-anchored centers, driving momentum in rental income. With strong cash flow and a robust balance sheet showing a 5.6x net debt to EBITDA, PECO is well-positioned for growth. 2022 guidance reflects optimism for continued expansion.

Phillips Edison & Company (Nasdaq: PECO) has announced tax reporting information for its 2021 distributions. The details are provided for Class B Common Shares, including record and payable dates along with total distribution amounts per share. For example, the distribution for the record date of 12/31/2020 was $0.028333, with ordinary dividends at $0.017779. The company operates one of the largest portfolios of grocery-anchored shopping centers in the U.S., managing 289 centers totaling 30.7 million square feet. PECO emphasizes its commitment to enhancing community shopping experiences.

Phillips Edison & Company (PECO) will release its fourth quarter earnings and 2022 full-year guidance on February 10, 2022, after market close. A conference call is scheduled for February 11, 2022, at 12:00 PM ET, featuring CEO Jeff Edison, President Devin Murphy, and CFO John Caulfield. PECO operates 289 shopping centers, including 268 wholly-owned centers totaling approximately 30.7 million square feet, primarily anchored by major grocery chains like Kroger and Publix. The earnings release will be available on their investor website.

Phillips Edison & Company (PECO) updated its acquisition and disposition activities for Q4 and H2 2021. The company acquired seven grocery-anchored centers and two outparcels for $267.4 million, exceeding its guidance. In Q4, PECO acquired five centers totaling over 750,000 square feet for $219.1 million while disposing of five centers totaling over 559,000 square feet for $28.7 million. The company aims for an 8% unlevered internal rate of return from these acquisitions, affirming its growth strategy and strong operational results.

Phillips Edison & Company (Nasdaq: PECO) announced that all outstanding Class B Common Stock shares will automatically convert into Nasdaq-listed Common Stock on a one-for-one basis, effective January 18, 2022. This conversion will not impact the economic rights of Class B shareholders and is expected to have no material effect on future operations. The Common Stock shares maintain identical rights and preferences as the Class B shares. PECO operates numerous grocery-anchored shopping centers across the U.S., managing 289 centers totaling 30.4 million square feet.

Phillips Edison & Company (NASDAQ: PECO) released insights on top shopping center trends for 2022 at ICSC’s Here, We Go event. Key trends include a shift towards smaller retail formats by major brands like Target and Kohl's, driven by consumer demand for convenience. The company highlights the importance of automation and technology in enhancing retail efficiency, crucial amidst ongoing supply chain challenges. Growing sectors like health services and quick-service restaurants, particularly those leveraging digital innovations, show promising growth potential.

Phillips Edison & Company (PECO) announced its inclusion in the MSCI US REIT Index and MSCI Global Small Cap Index effective November 30, 2021. This marks a significant milestone for PECO, enhancing its visibility in global equity markets and potentially attracting more institutional investment. As of September 30, 2021, PECO owns and operates 289 shopping centers, showcasing its strength in grocery-anchored retail, with major tenants including Kroger and Publix. The move supports PECO's strategy to optimize shareholder value and expand its market footprint.

Phillips Edison & Company reported a net income of $14.6 million ($0.13/share) for Q3 2021, reflecting growth from $11.8 million in Q3 2020. Nareit FFO was $56.9 million ($0.46/share), down slightly from $57.4 million. Core FFO increased by 11.3% to $66.4 million ($0.54/share). Same-center NOI rose 8.7% year-over-year. The company acquired four grocery-anchored shopping centers for $139.5 million and completed a $547.4 million IPO. The net debt to annualized adjusted EBITDAre ratio improved to 5.4x. Monthly distributions increased by 6% to $0.09 per share.