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

Phillips Edison & Company (PECO), a major owner of grocery-anchored shopping centers, has released its tax reporting information for 2024 distributions to common stockholders. The company paid monthly distributions throughout 2024, with payments of $0.0975 per share from January through September, increasing to $0.1025 per share for October through December.

Each distribution was consistently structured with approximately 77.4% classified as ordinary dividends and 22.6% as return of capital (nontaxable distribution). All ordinary dividend amounts qualify as Section 199A distributions. The company reported no capital gain distributions or unrecaptured Section 1250 gains for the year.

Phillips Edison & Company (PECO) has announced significant amendments to its unsecured revolving credit facility. The facility has been increased from $800 million to $1.0 billion and its maturity extended to January 9, 2029, with options for two additional six-month extensions.

The company can further increase the facility or incur new term loans by up to $500 million and increase the existing term loan by up to $200 million, subject to syndication. Borrowings will initially bear interest at SOFR plus 86.5 basis points, an improvement from the previous rate of SOFR plus 94 basis points. An annual facility fee of 15 basis points applies, with both rates subject to adjustment based on credit ratings, leverage ratio, and sustainability metrics.

The syndication is led by PNC Bank Capital Markets and KeyBanc Capital Markets as Joint Bookrunners and Joint Lead Arrangers, with participation from several major financial institutions.

Phillips Edison & Company (PECO), a major owner-operator of grocery-anchored neighborhood shopping centers, has scheduled its Fourth Quarter and Full Year 2024 earnings announcement for Thursday, February 6, 2025, after market close. The company will host an earnings conference call and webcast on Friday, February 7, 2025, at 12:00 p.m. ET.

The earnings presentation will be led by Chairman and CEO Jeff Edison, President Bob Myers, and CFO John Caulfield. The earnings release and supplemental information package will be available on PECO's Investor Relations website. Investors can participate via phone using toll-free (800) 715-9871 or toll (646) 307-1963 with Conference ID 4551083, or through the webcast. A replay will be available approximately one hour after the presentation.

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.