Phillips Edison & Company, Inc. ( (PECO) ) has released its Q1 earnings. Here is a breakdown of the information Phillips Edison & Company, Inc. presented to its investors.
Phillips Edison & Company, Inc. (PECO) is a prominent real estate investment trust specializing in the ownership and operation of grocery-anchored neighborhood shopping centers across the United States. Founded in 1991, PECO manages a substantial portfolio of well-occupied centers, focusing on necessity-based goods and services.
In its first quarter of 2025 earnings report, Phillips Edison & Company announced a net income of $26.3 million, or $0.21 per diluted share, and reaffirmed its full-year earnings guidance. The company highlighted its strong financial performance, driven by robust retailer demand and strategic acquisitions.
Key financial metrics for the quarter included a Nareit FFO of $89.0 million, or $0.64 per diluted share, and a Core FFO of $90.8 million, or $0.65 per diluted share, both reflecting an 11.2% increase compared to the previous year. The company also reported a 3.9% increase in same-center net operating income and maintained a high leased portfolio occupancy rate of 97.1%. Additionally, PECO acquired six shopping centers for $146.4 million and extended its revolving credit facility to $1.0 billion.
The company’s strategic focus on grocery-anchored centers, coupled with its disciplined approach to acquisitions and leasing, positions it well for continued growth. Management expressed confidence in its ability to deliver stable earnings and capitalize on internal and external growth opportunities.
Looking ahead, Phillips Edison & Company remains committed to its growth strategy, supported by strong market fundamentals and a solid financial position. The company anticipates continued demand for its grocery-anchored centers, providing a stable foundation for future performance.