Phillips Edison & Company, Inc. Stock Price, News & Analysis

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.

Phillips Edison & Company, Inc. (NASDAQ: PECO) has released its 2020 Corporate Social Responsibility (CSR) report, highlighting its commitment to environmental sustainability, community involvement, and employee engagement. Key accomplishments include being named a Top Place to Work for four consecutive years, achieving a 91% employee pride score, and launching PECO Connect to support tenants during COVID-19. The company also reported significant energy savings through environmental initiatives, recycling over 27.2 million pounds of waste, and enhancing diversity efforts within the organization.

Phillips Edison & Company (PECO) announced a public offering of $350 million in 2.625% senior notes due 2031, priced at 98.692%. The offering aims to settle on October 6, 2021, pending standard closing conditions. Proceeds will be used to repay a $150 million term loan maturing in 2023 and for general corporate purposes, including future investments. The notes are fully guaranteed by PECO. Wells Fargo, BofA, and J.P. Morgan are among the joint book-running managers. The offering complies with SEC regulations and aims to bolster PECO's financial stability amidst a competitive retail environment.

Phillips Edison & Company (Nasdaq: PECO) announced a 6% increase in its monthly distribution, raising it to $0.09 per share effective November 1, 2021. This translates to an annualized rate of $1.08 per share, up from $1.02. The decision reflects the strong performance of its grocery-anchored shopping centers and high collection rates near pre-pandemic levels. The current dividend yield is noted at 3.6% based on the stock's recent closing price. The company operates 294 shopping centers across the U.S., hosting major retailers like Kroger and Publix.

Phillips Edison & Company (PECO) will participate in the BofA Securities 2021 Global Real Estate Conference on September 21, 2021, from 11:15 a.m. to 11:50 a.m. ET. The company's management, including Devin Murphy and John Caulfield, will present at the conference and hold individual meetings with investors. Interested parties can request meetings through BofA representatives or by contacting PECO directly. The presentation will also be available via webcast. PECO is a leading owner and operator of grocery-anchored neighborhood shopping centers across the U.S.

Phillips Edison & Company (Nasdaq: PECO) will release its third quarter earnings on November 4, 2021, after market close. A conference call to discuss the results will be held on November 5, 2021, at 10:00 a.m. Eastern Time, featuring key executives such as CEO Jeff Edison and CFO John Caulfield. The earnings release, alongside financial supplements and a 10-Q filing, will be available on the company's investor website. PECO, a leading operator of grocery-anchored shopping centers, manages a diverse portfolio of 294 centers across 31 states.