Phillips Edison & Company Inc. Common Stock Earnings Recaps
Q3 2026
Oct 28, 2026
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.
Key takeaways
- 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.
Q2 2026
Jul 26, 2026
Shares rose modestly by 2.0% following the quarter, reflecting steady execution but a lack of clear upside catalysts to push the stock higher. Results showed consistent growth in key metrics, yet the market’s tepid response signals some investor caution on growth sustainability and margin expansion.
Key takeaways
- Nareit FFO per share grew 8.1%; core FFO per share rose 7.8%, supported by 3% same-center NOI growth.
- Occupancy gains, strong rent spreads, and solid operational execution drove performance in grocery-anchored shopping centers.
- Increased full-year acquisition guidance to $500–600 million, with a disciplined focus on returns and quality over volume.
- Raised $92 million of equity capital to fund growth initiatives while maintaining a conservative balance sheet.
- Continued emphasis on portfolio recycling and joint ventures as diversification and capital efficiency strategies.