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

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.

Phillips Edison & Company (PECO), a major owner of grocery-anchored shopping centers, is set to host a PECO GROW Update for financial advisors and retail investors on September 18, 2024, at 12:00 p.m. ET. The webcast will feature discussions about the business and a Q&A session led by CEO Jeff Edison, President Bob Myers, and CFO John Caulfield.

Participants can join via a toll-free number (1-800-715-9871) or international number (1-646-307-1963) using the conference ID 5434174. The presentation will be available on PECO's Investor Relations website, and an audio replay will be accessible after the event. This update provides an opportunity for stakeholders to gain insights into PECO's operations and future plans.

Phillips Edison & Company (Nasdaq: PECO) has announced the pricing of a $350 million public offering of 4.950% senior unsecured notes due 2035 through its operating partnership. The notes, priced at 98.458% of the principal amount, are set to mature on January 15, 2035. The offering is expected to close on September 12, 2024. PECO intends to use the net proceeds for various corporate purposes, including property acquisitions, debt repayment, capital expenditures, and property improvements. The offering is being made through a shelf registration statement filed with the SEC, with several major financial institutions acting as joint book-running managers.

Phillips Edison & Company (Nasdaq: PECO) has received a credit rating upgrade from Moody's Ratings. The company's issuer credit rating has been raised to 'Baa2' from 'Baa3', with a stable outlook. Moody's cited PECO's high-quality portfolio of grocery-anchored shopping centers, resilient operating cash flows, and moderate leverage metrics as key factors in the upgrade.

The rating agency highlighted PECO's consistently high portfolio lease rate, averaging 97.5% in the last four quarters, and solid leasing spreads of 28% during the same period. Moody's expects PECO to maintain strong operating performance despite the slowing macroeconomic environment, due to its portfolio mix.

Phillips Edison & Company (Nasdaq: PECO) has announced a 5.1% increase in its monthly dividend distribution. The new rate of $0.1025 per share will be payable on October 1 and November 1, 2024, to stockholders of record as of September 16 and October 15, 2024, respectively. This increase brings the annualized dividend rate to $1.23 per share, up from the previous $1.17 per share.

CEO Jeff Edison attributed this increase to PECO's strong operating performance, growing cash flows, and successful strategy of owning high-quality, grocery-anchored neighborhood shopping centers in suburban markets. The company aims to continue delivering solid earnings growth, market-leading operating metrics, and long-term value creation for its shareholders.

Phillips Edison & Company (PECO), a major owner of grocery-anchored shopping centers, announced its participation in the BofA Securities 2024 Global Real Estate Conference. Chairman and CEO Jeff Edison will present on September 10, 2024, at 2:15 p.m. Eastern Time. The presentation will also feature President Bob Myers and CFO John Caulfield.

A live webcast of the roundtable presentation will be available, with a replay posted within 24 hours on PECO's investor relations website. This event provides an opportunity for investors to gain insights into PECO's strategies and performance in the real estate sector.

Phillips Edison & Company (PECO) has received a credit rating upgrade from S&P Global Ratings to 'BBB' from 'BBB-' with a stable outlook. This upgrade reflects PECO's solid operating performance, conservative balance sheet management, and reduced exposure to floating-rate debt. S&P expects PECO's fixed-charge coverage ratio to improve due to anticipated interest rate cuts.

PECO's financial policy is supported by a prudent investment strategy, with annual net acquisitions between $200-300 million and redevelopment spending of $40-50 million. The company has funded investments in a leverage-neutral manner using free cash flow, dispositions, equity, and debt. PECO's CEO, Jeff Edison, attributes the company's success to its focused strategy of owning high-quality, grocery-anchored neighborhood shopping centers in suburban markets.

Phillips Edison & Company (Nasdaq: PECO), a major owner and operator of grocery-anchored neighborhood shopping centers, has announced a monthly dividend distribution of $0.0975 per share of common stock. This dividend will be payable on September 4, 2024, to stockholders of record as of August 15, 2024. Operating partnership unit holders will receive distributions at the same rate as common stockholders, subject to required tax withholding.

PECO, known for its significant presence in the grocery-anchored retail space, continues to demonstrate its commitment to providing regular returns to its investors through this dividend declaration. This announcement reflects the company's ongoing financial stability and shareholder value creation strategy in the real estate investment trust (REIT) sector.

Phillips Edison & Company (Nasdaq: PECO) reported second-quarter 2024 results, recording net income of $15.3 million, or $0.12 per diluted share. For the first half of 2024, net income was $32.9 million, or $0.27 per diluted share. Nareit FFO increased 3.3% to $78.4 million, or $0.57 per diluted share, while Core FFO rose 2.9% to $80.0 million, or $0.59 per diluted share. The company reaffirmed its full-year earnings guidance, projecting Nareit FFO per share between $2.34 and $2.41, and Core FFO per share between $2.37 and $2.45. Same-center NOI for Q2 increased by 1.9% year-over-year to $105.6 million. The company maintained high occupancy rates, with leased portfolio occupancy at 97.5% and record-high inline occupancy at 95.1%. PECO executed 277 leases in Q2, achieving significant rent spreads. Recent acquisitions include shopping centers and land parcels worth $59.5 million. The company also launched a joint venture with Cohen & Steers targeting $300 million in equity. As of June 30, 2024, PECO had approximately $743 million in liquidity and completed a $350 million debt offering.