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

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.

Phillips Edison & Company (NASDAQ: PECO) has celebrated the grand opening of a new 48,387 square-foot Publix store at Shoppes of Lake Village in Leesburg, Florida. This addition strengthens the center's merchandising and enhances customer service capabilities. Publix, the largest employee-owned supermarket chain in the U.S., aligns with PECO’s strategy of creating quality grocery-anchored shopping experiences. The center will also soon welcome other notable tenants, enhancing its appeal further.

Phillips Edison & Company (PECO) reported a net income of $5.6 million, or $0.06 per diluted share, for Q2 2021. Rent collections were over 98%, with total revenues increasing by 11.8% to $133.1 million. Nareit FFO increased by 19.9% to $59.9 million, while Core FFO rose by 24.3% to $64.3 million. Same-center NOI grew by 10.5% to $87.7 million. Following a successful IPO raising $547.4 million, PECO secured a $980 million credit facility to strengthen its balance sheet. The company remains optimistic about growth, supported by positive macroeconomic trends.

Phillips Edison & Company (PECO) announced that underwriters exercised their option to purchase an additional 2,550,000 shares from its initial public offering (IPO) of 17 million shares, totaling 19,550,000 shares at $28.00 each. The IPO commenced trading on July 15, 2021. Proceeds from the offering were partially used to repay a $375 million term loan due in 2022. The company owns equity interests in 300 properties, enhancing its standing as one of the largest operators of grocery-anchored neighborhood shopping centers in the U.S.

Phillips Edison & Company (PECO) will release its second quarter earnings on August 5, 2021, followed by a conference call on August 6 at 9:00 a.m. ET. The call will be hosted by key executives including CEO Jeff Edison and CFO John Caulfield. Investors can join the call via a toll-free number or access it through a webcast. PECO's portfolio includes 300 shopping centers, primarily grocery-anchored, covering about 31.3 million square feet across 31 states. The company is committed to enhancing shopping experiences and community development.

Phillips Edison & Company (PECO) completed its initial public offering (IPO) of 17,000,000 shares at $28.00 each, with the potential for a 30-day option of 2,550,000 additional shares. The offering commenced trading on Nasdaq on July 15, 2021. The net proceeds are designated for paying off a $375 million unsecured term loan, funding property acquisitions, and other corporate uses. Major financial institutions, including Morgan Stanley and BofA Securities, managed the offering.