Phillips Edison & Company, Inc. - PECO STOCK NEWS

Phillips Edison & Company (Nasdaq: PECO) will announce its third quarter earnings results on November 3, 2022, post-market. The earnings release will be accessible on their Investor Relations website. An earnings conference call featuring key executives will take place on November 4, 2022, at 12:00 p.m. ET, allowing investors to discuss the results. PECO is a significant owner and operator of grocery-anchored neighborhood shopping centers, managing 289 centers as of June 30, 2022, and focusing on enhancing shopping experiences in communities across the U.S.

Phillips Edison & Company (Nasdaq: PECO) announced its participation in the BofA Securities 2022 Global Real Estate Conference on September 13, 2022, at 2:10 p.m. Eastern Time. The roundtable will feature key executives, including Jeff Edison (CEO), Devin Murphy (President), and John Caulfield (CFO). A webcast of the presentation will be available here, with a replay accessible on the company's investor website. PECO is recognized for its extensive network of grocery-anchored shopping centers across the U.S.

On September 6, 2022, Phillips Edison & Company (PECO) announced a 3.7% increase in its monthly distributions to shareholders, effective October 3 and November 1, 2022. This raises the distribution to $0.0933 per share, equating to an annualized rate of $1.12 per share, up from $1.08. The chairman emphasized the company's strong cash flows and commitment to enhancing shareholder returns while pursuing growth opportunities through acquisitions and property redevelopment. PECO operates numerous grocery-anchored shopping centers across the U.S., contributing to solid financial performance.

Phillips Edison & Company (PECO) reported a net income of $13.5 million for Q2 2022, up from $5.6 million in Q2 2021. Nareit FFO rose 18.8% to $71.1 million, driven by increased rental income and reduced interest expense. Same-center NOI increased by 4.3%, and portfolio occupancy hit a record 96.8%. PECO expanded its credit facility to $800 million and launched a $250 million share repurchase program. However, acquisition guidance was downgraded due to capital market uncertainties. PECO raised its 2022 earnings guidance based on strong leasing activities.

Phillips Edison & Company (Nasdaq: PECO) will release its second quarter earnings on August 4, 2022. A conference call will follow on August 5, 2022, at 12:00 p.m. Eastern Time. The call will be hosted by CEO Jeff Edison, President Devin Murphy, and CFO John Caulfield, and will be accessible via the company’s website. As of March 31, 2022, PECO manages 290 shopping centers across 31 states, featuring top grocery anchors such as Kroger and Publix.

Phillips Edison & Company (PECO) announced that its CEO Jeff Edison and CFO John Caulfield will present at the Nareit REITweek: 2022 Investor Conference on June 8, 2022. The presentation is scheduled for 2:45 p.m. Eastern Time and will cover the company’s performance and strategies. PECO is recognized as one of the largest owners and operators of grocery-anchored shopping centers in the U.S., managing 290 shopping centers nationwide. A live webcast of the presentation will be available on PECO's investor relations page.

Phillips Edison & Company (NASDAQ: PECO) has received gold-level recognition as a 2022 Green Lease Leader during the Better Buildings, Better Plants Summit. This honor was given by the Institute for Market Transformation and the U.S. Department of Energy’s Better Buildings Alliance. Green leases aim to enhance energy efficiency and sustainability in commercial spaces, impacting nearly two billion square feet across North America. Green leases can save up to $3 billion in annual utility costs for U.S. office buildings. PECO operates 290 shopping centers, focusing on grocery-anchored retail.

Phillips Edison & Company (NASDAQ: PECO) unveiled key shopping center trends at ICSC Las Vegas, emphasizing consumer convenience and suburban expansion. Retailers are adapting by relocating closer to growing suburban populations, driven by remote work and demographic shifts. The rise of 'medtail' stores highlights healthcare’s shift towards accessible retail environments. Quick-service restaurants are innovating with drive-thru-only models, while major brands are adopting smaller formats to enhance consumer access and integrate technology. PECO's National Accounts team tracks emerging trends, leveraging data to optimize leasing strategies.

Phillips Edison & Company (PECO) announced an amendment to its credit facility, increasing revolving credit commitments by $300 million to a total of $800 million. The facility matures in January 2026, with a possible extension to January 2027. The amendment also replaces LIBOR with SOFR as the benchmark interest rate and maintains the pricing grid. This increased capacity supports the company's growth initiatives, as noted by CFO John Caulfield.