PECO reported solid operating metrics, but the stock was roughly flat, down 1.1% after earnings. The company raised the midpoint of full-year guidance and pointed to growth opportunities, while its outlook for 2027 remains broad pending more detail in December.
- Same-center NOI grew 5.3%, and core FFO per share increased 9.2%.
- Portfolio retention was 92.2%; lease occupancy was 97.5%, with in-line occupancy at 95.1%.
- Comparable renewal and new-lease spreads were 25.2% and 26.3%, respectively.
- Bad debt was about 70 basis points of revenue, in line with expectations.
- PECO acquired $519 million of assets at its share year to date through October 26; management said the development and redevelopment pipeline was nearly $90 million.
Community Discussion