Company Overview - Phillips Edison & Company, Inc. (PECO) is headquartered in Cincinnati and has experienced a price change of 6.33% this year [3] - The company currently pays a dividend of $0.33 per share, resulting in a dividend yield of 3.44%, which is lower than the REIT and Equity Trust - Retail industry's yield of 4.25% and higher than the S&P 500's yield of 1.36% [3] Dividend Performance - The current annualized dividend of PECO is $1.30, reflecting a 3.8% increase from the previous year [4] - Over the past 5 years, PECO has increased its dividend 5 times, achieving an average annual increase of 4.79% [4] - The company's current payout ratio is 51%, indicating that it pays out 51% of its trailing 12-month earnings per share as dividends [4] Earnings Expectations - PECO is projected to see earnings growth this fiscal year, with the Zacks Consensus Estimate for 2026 at $2.74 per share, representing a year-over-year growth rate of 5.38% [5] Investment Appeal - PECO is considered an attractive dividend play and a compelling investment opportunity, holding a Zacks Rank of 2 (Buy) [6]

Shoppes of Paradise Lakes | Miami, FL Suburb February 2026 Q4 2025 Earnings Presentation Safe Harbor and Non-GAAP Disclosures PECO's Safe Harbor Statement This presentation contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Privat ...

Core Insights - Phillips Edison & Company, Inc. (PECO) reported a revenue of $187.86 million for the quarter ended December 2025, marking an 8.6% year-over-year increase and exceeding the Zacks Consensus Estimate of $186.5 million by 0.73% [1] - The company achieved an EPS of $0.66, significantly higher than the $0.15 reported a year ago, also surpassing the consensus EPS estimate by 0.73% [1] Revenue Breakdown - Rental income was reported at $183.24 million, exceeding the average estimate of $181.23 million by analysts, reflecting an 8.1% year-over-year increase [4] - Other property income reached $1.24 million, compared to the estimated $0.9 million, representing a substantial 54% increase year-over-year [4] - Fees and management income totaled $3.38 million, surpassing the average estimate of $3.26 million, with a year-over-year growth of 21.2% [4] Stock Performance - Shares of Phillips Edison & Company have returned +5.7% over the past month, outperforming the Zacks S&P 500 composite, which saw a +0.5% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

分组1 - Phillips Edison & Company reported quarterly funds from operations (FFO) of $0.66 per share, matching the Zacks Consensus Estimate, and showing an increase from $0.62 per share a year ago, with a surprise of +0.73% [1] - The company achieved revenues of $187.86 million for the quarter ended December 2025, exceeding the Zacks Consensus Estimate by 0.73%, and up from $173.05 million year-over-year [2] - The stock has gained approximately 4.6% since the beginning of the year, outperforming the S&P 500, which has gained 0.5% [3] 分组2 - The current consensus FFO estimate for the upcoming quarter is $0.67 on revenues of $187.27 million, and for the current fiscal year, it is $2.74 on revenues of $765.76 million [7] - The REIT and Equity Trust - Retail industry, to which Phillips Edison & Company belongs, is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook [8] - The estimate revisions trend for Phillips Edison & Company was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting expected outperformance in the near future [6]

Financial Performance - The company reported a significant increase in revenue, achieving $X million for the quarter, representing a Y% year-over-year growth[3]. - For Q4 2025, net income attributable to stockholders was $47.5 million, or $0.38 per diluted share, compared to $18.1 million, or $0.15 per diluted share in Q4 2024[18]. - For the full year 2025, net income attributable to stockholders totaled $111.3 million, or $0.89 per diluted share, up from $62.7 million, or $0.51 per diluted share in 2024[18]. - Total revenues for Q4 2025 reached $187.861 million, up from $173.048 million in Q4 2024, representing an increase of 8.5%[45]. - Net income attributable to stockholders for Q4 2025 was $47.525 million, compared to $18.142 million in Q4 2024, reflecting a significant increase of 162.5%[50]. - Nareit FFO for the year ended December 31, 2025, was $353.088 million, up from $323.771 million in 2024, marking an increase of 9.0%[45]. - The company reported a Core FFO per share of $2.60 for the year ended December 31, 2025, compared to $2.43 in 2024, reflecting a growth of 7.0%[45]. - Total revenues for the year ended December 31, 2025, increased to $726.6 million, up 9.9% from $661.4 million in 2024[64]. User Engagement and Market Outlook - User data showed an increase in active users, reaching Z million, which is a W% increase compared to the previous quarter[3]. - The company provided an optimistic outlook for the next quarter, projecting revenue growth of A% and an increase in user engagement metrics[3]. - The company is exploring new market opportunities, particularly in the I sector, which could yield significant growth potential[3]. Strategic Initiatives - New product launches are expected to contribute an additional $B million in revenue, with anticipated market expansion into C regions[3]. - A strategic acquisition was completed, adding E properties to the portfolio, which is expected to enhance overall market presence[4]. - The company is investing D million in research and development for new technologies aimed at enhancing user experience and operational efficiency[3]. - The company has ongoing capital projects with a total estimated cost of $69.5 million, targeting yields between 9% and 12%[71]. - The company is exploring potential acquisitions of underperforming retail spaces to enhance portfolio diversity and revenue streams[102]. Financial Guidance and Projections - The company has set a performance guidance of F million for the next fiscal year, reflecting a G% increase from the current year[3]. - The company expects 2026 Nareit FFO per share guidance to be between $2.65 and $2.71, with Same-Center NOI growth projected at 3.00% to 4.00%[36]. - Net income per share for 2026 is projected to be between $0.74 and $0.77, down from $0.89 in 2025[117]. - Nareit FFO per share is expected to increase to between $2.65 and $2.71 in 2026, compared to $2.54 in 2025[117]. - Core FFO per share is forecasted to rise to between $2.71 and $2.77 in 2026, up from $2.60 in 2025[117]. Capital Expenditures and Investments - Capital expenditures for the upcoming year are projected to be H million, focusing on infrastructure improvements and technology upgrades[3]. - The company incurred $6.0 million in costs for ground-up expansion developments, with a target stabilization in Q2-2026[69]. - Total capital spending activity for the year ended December 31, 2025, was $133.7 million, up from $91.8 million in 2024[68]. - The company reported a total debt obligation of $2,402,145 as of December 31, 2025[120]. Portfolio and Asset Management - The company managed 324 shopping centers as of December 31, 2025, with 297 wholly-owned centers totaling 33.5 million square feet[42]. - The leased occupancy rate was 97.3% as of December 31, 2025, slightly down from 97.7% in 2024[45]. - The portfolio consists of 297 shopping centers across 31 states, totaling 33,495,000 square feet[87]. - The average annual base rent (ABR) for the total portfolio is $16.54 per square foot, with grocery anchor spaces at $10.68 and inline spaces at $26.98[87]. - The average remaining lease term for the total portfolio is 4.5 years, with grocery anchor spaces at 4.6 years[87]. - The company reported a total of 272 properties contributing to Same-Center NOI calculations[57]. Debt and Financial Ratios - Debt obligations rose to $2.375 billion in 2025 from $2.110 billion in 2024, an increase of 12.6%[49]. - The company reported a total net debt of $2,451,809 thousand as of December 31, 2025, compared to $2,160,856 thousand in 2024, reflecting an increase of approximately 13.4%[73]. - The secured leverage ratio stood at 6.1%, well below the covenant limit of 35%[76]. - The fixed charge coverage ratio was reported at 4.07x, exceeding the required minimum of 1.5x[76]. - The company has a weighted average interest rate of 4.5% on total consolidated debt of $2,375,328 thousand[75]. Operational Efficiency and Cost Management - The company experienced a gain on disposal of property of $28,992,000, compared to a gain of $4,255,000 in the previous quarter[51]. - Adjusted FFO attributable to stockholders and OP unit holders was $294,446,000, compared to $73,826,000 in the previous quarter, indicating effective cost management[54]. - The company’s depreciation and amortization of real estate assets for the quarter was $264,834,000, compared to $63,926,000 in the previous quarter, reflecting ongoing investments in property[52]. Market Trends and Consumer Behavior - 69.8% of total ABR comes from necessity-based goods and services, with grocery contributing 28.2%[88]. - The average annual sales per square foot of reporting grocers is $750[87]. - The grocery anchor Publix is present in 90% of the properties, indicating strong tenant relationships and consumer traffic[102].

Core Insights - Phillips Edison & Company, Inc. (PECO) reported strong financial results for the fourth quarter and full year ended December 31, 2025, with net income attributable to stockholders of $47.5 million for Q4 and $111.3 million for the full year, reflecting significant growth compared to the previous year [1][4]. Financial Results - For Q4 2025, net income attributable to stockholders was $47.5 million, or $0.38 per diluted share, compared to $18.1 million, or $0.15 per diluted share in Q4 2024 [4]. - For the full year 2025, net income attributable to stockholders totaled $111.3 million, or $0.89 per diluted share, up from $62.7 million, or $0.51 per diluted share in 2024 [4]. Nareit FFO - Nareit FFO for Q4 2025 increased by 5.9% to $88.8 million, or $0.64 per diluted share, compared to $83.8 million, or $0.61 per diluted share in Q4 2024 [5][6]. - For the full year 2025, Nareit FFO rose 9.1% to $353.1 million, or $2.54 per diluted share, compared to $323.8 million, or $2.37 per diluted share in 2024 [6]. Core FFO - Core FFO for Q4 2025 increased by 6.2% to $91.1 million, or $0.66 per diluted share, compared to $85.8 million, or $0.62 per diluted share in Q4 2024 [7]. - For the full year 2025, Core FFO increased by 8.7% to $360.7 million, or $2.60 per diluted share, compared to $331.8 million, or $2.43 per diluted share in 2024 [7]. Same-Center NOI - Same-center NOI for Q4 2025 increased by 3.2% to $115.9 million, compared to $112.3 million in Q4 2024 [8]. - For the full year 2025, same-center NOI increased by 3.8% to $454.7 million, compared to $438.1 million in 2024 [8]. Portfolio Overview - As of December 31, 2025, PECO's portfolio consisted of 297 properties totaling approximately 33.5 million square feet, an increase from 294 properties totaling approximately 33.3 million square feet as of December 31, 2024 [9]. - The leased portfolio occupancy remained high at 97.3% as of December 31, 2025, compared to 97.7% at the end of 2024 [10]. Leasing Activity - In Q4 2025, 246 leases were executed totaling approximately 1.4 million square feet, compared to 231 leases totaling approximately 1.4 million square feet in Q4 2024 [12]. - For the full year 2025, 1,026 leases were executed totaling approximately 6.0 million square feet, compared to 1,021 leases totaling approximately 6.0 million square feet in 2024 [12]. 2026 Guidance - PECO provided guidance for 2026, projecting net income per share to be in the range of $0.74 to $0.77, Nareit FFO per share between $2.65 and $2.71, and Core FFO per share between $2.71 and $2.77 [19][22]. - The company anticipates same-center NOI growth of 3.00% to 4.00% for 2026 [22]. Balance Sheet Highlights - As of December 31, 2025, PECO had approximately $925.1 million of total liquidity, including $43.3 million in cash and cash equivalents, and $881.8 million of borrowing capacity on its revolving credit facility [16]. - The company's net debt to annualized adjusted EBITDAre was 5.2x as of December 31, 2025, compared to 5.0x at the end of 2024 [17].

Core Insights - Phillips Edison & Company, Inc. (NASDAQ:PECO) is recognized as one of the 10 Best Monthly Dividend Stocks to Buy Now [1] - Evercore ISI initiated coverage of PECO with an Outperform rating and a price target of $41, emphasizing the company's focus on grocery-anchored shopping centers and necessity-based tenants [2] - PECO reported a portfolio occupancy rate of 98%, supported by strong demand from its tenant base, referred to as "Neighbors" [3] Company Performance - The company has over 30 years of experience in the grocery-anchored shopping center sector, which informs its evaluation of property quality and long-term performance [4] - PECO's centers are situated in markets with an average median household income of $92K within a three-mile radius, approximately 15% above the national average [4] - Population growth in these markets has exceeded the U.S. average by about 5% over the past three years, which is expected to support rent growth and long-term value creation [4] Future Outlook - Management projects a 26% increase in portfolio income over the next five years, indicating strong growth potential [4] - The company is actively developing a growing pipeline of ground-up outparcel developments and repositioning projects [3]

Core Viewpoint - Phillips Edison & Company, Inc. (PECO) has announced its tax reporting information for the 2025 distributions to common stockholders, detailing the per share distribution amounts and their classifications [1]. Distribution Details - The total distribution per share for each payment date is consistently $0.102500 for the first eight months of 2025, with a slight increase to $0.108300 for the last three months [1]. - The ordinary dividends for the distributions are reported as $0.084002 for the first eight months and $0.088755 for the last three months [1]. - The return of capital distribution is $0.018498 for the first eight months and $0.019545 for the last three months [1]. Company Overview - Phillips Edison & Company is one of the largest owners and operators of grocery-anchored neighborhood shopping centers in the U.S., managing 328 shopping centers as of September 30, 2025 [4]. - The company features a mix of national and regional retailers, focusing on necessity-based goods and services in strong markets [4]. - PECO's top grocery anchors include major retailers such as Kroger, Publix, Albertsons, and Ahold Delhaize [4].

Valuation & Earnings - Federal Realty Investment Trust (FRT) has a gross revenue of $1.20 billion and a net income of $295.21 million, resulting in an earnings per share (EPS) of $3.94 and a price-to-earnings (P/E) ratio of 26.32. In contrast, Phillips Edison & Company, Inc. (PECO) has a gross revenue of $661.39 million, a net income of $62.69 million, an EPS of $0.66, and a P/E ratio of 54.24. This indicates that FRT has higher revenue and earnings compared to PECO and is trading at a lower P/E ratio, making it more affordable [2][3]. Profitability - FRT exhibits a net margin of 27.65%, a return on equity of 11.12%, and a return on assets of 4.01%. In comparison, PECO has a net margin of 11.51%, a return on equity of 3.14%, and a return on assets of 1.58%. This further emphasizes FRT's superior profitability metrics over PECO [4][3]. Analyst Recommendations - FRT has received 0 sell ratings, 8 hold ratings, 8 buy ratings, and 1 strong buy rating, resulting in a rating score of 2.59. PECO has 0 sell ratings, 5 hold ratings, 4 buy ratings, and 0 strong buy ratings, with a rating score of 2.44. The consensus target price for FRT is $110.30, indicating a potential upside of 6.37%, while PECO has a target price of $38.86, suggesting a potential upside of 8.54%. Analysts view PECO as more favorable due to its higher potential upside [6][5]. Volatility & Risk - FRT has a beta of 1.01, indicating that its stock price is 1% more volatile than the S&P 500. Conversely, PECO has a beta of 0.53, suggesting its stock price is 47% less volatile than the S&P 500 [7]. Institutional & Insider Ownership - Institutional investors hold 93.9% of FRT shares, while 80.7% of PECO shares are held by institutional investors. Additionally, 1.0% of FRT shares are held by company insiders compared to 8.0% for PECO. The strong institutional ownership in FRT suggests confidence from large investors in its long-term performance [8]. Dividends - FRT pays an annual dividend of $4.52 per share with a dividend yield of 4.4%, while PECO pays an annual dividend of $1.30 per share with a yield of 3.6%. FRT has a payout ratio of 114.7%, indicating potential concerns about future dividend sustainability, whereas PECO has a payout ratio of 197.0%. FRT has a longer track record of dividend growth, having raised its dividend for 58 consecutive years compared to PECO's 1 year [9]. Summary - Overall, FRT outperforms PECO in 15 out of 18 factors compared, highlighting its stronger financial position and operational metrics [10].

Core Viewpoint - Investors in the REIT and Equity Trust - Retail sector should consider Phillips Edison & Company, Inc. (PECO) and Tanger (SKT) as potential investment opportunities, with a closer examination needed to determine which stock offers better value [1] Group 1: Zacks Rank and Value Metrics - Both PECO and SKT currently hold a Zacks Rank of 2 (Buy), indicating positive revisions to their earnings estimates and improving earnings outlooks [3] - Value investors typically assess various traditional metrics, including P/E ratio, P/S ratio, earnings yield, and cash flow per share, to identify undervalued stocks [4] Group 2: Valuation Comparisons - PECO has a forward P/E ratio of 12.92, while SKT has a forward P/E of 13.88, suggesting PECO may be the more attractive option based on this metric [5] - PECO's PEG ratio is 1.39, compared to SKT's PEG ratio of 1.86, indicating that PECO may offer better value when considering expected EPS growth [5] - PECO's P/B ratio is 1.72, significantly lower than SKT's P/B of 5.18, further supporting the argument that PECO is the superior value option [6] - Based on these valuation metrics, PECO holds a Value grade of B, while SKT has a Value grade of C, reinforcing the conclusion that PECO is the better value investment at this time [6]