Phillips Edison & Company

Phillips Edison & Company Inc. Invites You to Join Its First Quarter 2024 Earnings Conference Call

Retrieved on: 
Wednesday, March 27, 2024
Phillips Edison & Company, Conference, PECO, Webcast

CINCINNATI, March 27, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, will announce its First Quarter 2024 earnings results on Thursday, April 25, 2024, after the market closes.

Key Points: 
  • CINCINNATI, March 27, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, will announce its First Quarter 2024 earnings results on Thursday, April 25, 2024, after the market closes.
  • PECO’s earnings release and supplemental information package will be posted on the Investor Relations section of the Company’s website at https://investors.phillipsedison.com/ .
  • Chairman and Chief Executive Officer Jeff Edison, President Bob Myers and Chief Financial Officer John Caulfield will host an earnings conference call, which will also be webcasted, on Friday, April 26, 2024, at 12:00 p.m.
  • First Quarter 2024 Earnings Conference Call Details:
    A webcast replay will be available approximately one hour after the conclusion of the presentation using the same link.

Moody’s Upgrades Phillips Edison & Company’s Rating Outlook to ‘Positive’ from ‘Stable’

Retrieved on: 
Monday, March 11, 2024
Credit rating, PECO, S&P Global Ratings, Moody's Investors Service, Phillips Edison & Company, Tenant, Commercial property

CINCINNATI, March 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings ("Moody's") revised its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘Baa3’ Issuer Credit Rating.

Key Points: 
  • CINCINNATI, March 11, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that Moody's Ratings ("Moody's") revised its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘Baa3’ Issuer Credit Rating.
  • In its public announcement, Moody’s stated: “PECO’s ratings reflect its high-quality portfolio of open-air neighborhood and community shopping centers, the resilient operating cash flows generated by its grocery-anchored centers, moderate leverage metrics, sound fixed charge coverage and good liquidity.”
    In addition, Moody’s stated: “Moody’s expects PECO to continue reporting good operating performance over the next few quarters despite the slowing macroeconomic environment because of its portfolio mix.
  • The high proportion of grocery-anchored shopping centers, 97.2% of PECO’s rental revenue in 2023, and the large share of the top grocers in its tenant mix have resulted in consistently high portfolio lease rates and strong tenant retention.”
    As previously announced, S&P Global Ratings revised in January 2024 its rating outlook for PECO to ‘Positive’ from ‘Stable’ and affirmed the Company’s ratings, including the ‘BBB-’ Issuer Credit Rating.

Phillips Edison & Company to Present at Citi’s 2024 Global Property CEO Conference

Retrieved on: 
Monday, February 26, 2024
Eastern Time Zone, PECO, Phillips Edison & Company, Conference, Management

CINCINNATI, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that the Company will participate in a roundtable presentation at Citi’s 2024 Global Property CEO Conference on Monday, March 4, 2024 at 8:10 a.m. Eastern Time.

Key Points: 
  • CINCINNATI, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that the Company will participate in a roundtable presentation at Citi’s 2024 Global Property CEO Conference on Monday, March 4, 2024 at 8:10 a.m. Eastern Time.
  • Chairman and Chief Executive Officer Jeff Edison, President Bob Myers and Chief Financial Officer John Caulfield will participate in the roundtable presentation.
  • The presentation will be posted on the Investor Relations section of the Company’s website at Investor Relations | Phillips Edison .
  • Speakers: Chairman and Chief Executive Officer Jeff Edison, President Bob Myers and Chief Financial Officer John Caulfield
    A webcast replay will be available approximately one hour after the conclusion of the presentation using the same link.

Phillips Edison & Company to Host PECO GROW Update for Financial Advisors and Retail Investors on February 29

Retrieved on: 
Wednesday, February 21, 2024
PECO, Q&A, Phillips Edison & Company, Webcast

CINCINNATI, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, will host a PECO GROW Update for financial advisors and retail investors on Thursday, February 29, 2024, at 12:00 p.m.

Key Points: 
  • CINCINNATI, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, will host a PECO GROW Update for financial advisors and retail investors on Thursday, February 29, 2024, at 12:00 p.m.
  • During the webcast, PECO will discuss the business and answer questions from financial advisors and retail investors.
  • Chairman and Chief Executive Officer Jeff Edison, President Bob Myers and Chief Financial Officer John Caulfield will host the webcast and Q&A session.
  • An audio replay of the webcast will be available approximately one hour after the conclusion of the presentation using the same link.

Phillips Edison & Company Declares Monthly Dividend Distributions

Retrieved on: 
Wednesday, February 21, 2024
Partnership, PECO, Phillips Edison & Company

CINCINNATI, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that its Board of Directors declared monthly dividend distributions of $0.0975 per share of the Company’s common stock payable on April 1, 2024 and May 1, 2024 to stockholders of record as of March 15, 2024 and April 15, 2024, respectively.

Key Points: 
  • CINCINNATI, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that its Board of Directors declared monthly dividend distributions of $0.0975 per share of the Company’s common stock payable on April 1, 2024 and May 1, 2024 to stockholders of record as of March 15, 2024 and April 15, 2024, respectively.
  • Operating partnership unit holders receive distributions at the same rate as common stockholders, subject to the required tax withholding.

Phillips Edison & Company Reports Fourth Quarter and Full Year 2023 Results; Increases 2024 Guidance

Retrieved on: 
Thursday, February 8, 2024
Comparable, Kroger, NOI, Partnership, Growth, PECO, Phillips Edison & Company, Bank statement, Health, Jewel-Osco, Core

Fourth quarter 2023 core funds from operations (“Core FFO”) increased 4.9% to $77.9 million, or $0.58 per diluted share, compared to $74.3 million, or $0.56 per diluted share, during the fourth quarter of 2022.

Key Points: 
  • Fourth quarter 2023 core funds from operations (“Core FFO”) increased 4.9% to $77.9 million, or $0.58 per diluted share, compared to $74.3 million, or $0.56 per diluted share, during the fourth quarter of 2022.
  • Fourth quarter 2023 same-center net operating income (“NOI”) increased 3.6% to $99.3 million, compared to $95.8 million during the fourth quarter of 2022.
  • During the fourth quarter ended December 31, 2023, the Company acquired six grocery-anchored shopping centers and two outparcels for a total of $186.4 million.
  • The Company updated its full year 2024 earnings guidance from its preliminary guidance provided in connection with its Investment Community Day.

Phillips Edison & Company Announces Tax Reporting Information for 2023 Dividend Distributions

Retrieved on: 
Wednesday, January 17, 2024
PECO, Phillips Edison & Company

CINCINNATI, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced its tax reporting information for the 2023 dividend distributions to holders of its common stock.

Key Points: 
  • CINCINNATI, Jan. 17, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced its tax reporting information for the 2023 dividend distributions to holders of its common stock.
  • The tax reporting information as it will be reported on the Form 1099-DIV, on a per share basis, is as follows:

Phillips Edison & Company Announces Execution of Interest Rate Swap

Retrieved on: 
Tuesday, January 16, 2024
PECO, Phillips Edison & Company

CINCINNATI, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that it has entered into an interest rate swap agreement totaling $150.0 million.

Key Points: 
  • CINCINNATI, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, today announced that it has entered into an interest rate swap agreement totaling $150.0 million.
  • On January 12, 2024, the Operating Partnership entered into an interest rate swap pursuant to an International Swaps and Derivatives Association Master Agreement.
  • The swap has a notional amount of $150.0 million and swaps the daily Secured Overnight Financing Rate for a fixed rate of approximately 3.45% effective September 25, 2024 and maturing December 31, 2025.
  • This instrument, which is designated as a cash flow hedge instrument, was entered into to mitigate the interest rate risk inherent in the Operating Partnership’s variable rate term loans and not for trading purposes.

S&P Upgrades Phillips Edison & Company’s Rating Outlook to ‘Positive’ from ‘Stable’

Retrieved on: 
Thursday, January 11, 2024
PECO, Phillips Edison & Company, S&P, ABR, S&P Global, Tenant

In its public announcement, S&P stated: “Phillips Edison's solid operating results are a byproduct of its strategy to invest in omnichannel grocery-anchored centers and having the top or second-ranked grocer within target markets.

Key Points: 
  • In its public announcement, S&P stated: “Phillips Edison's solid operating results are a byproduct of its strategy to invest in omnichannel grocery-anchored centers and having the top or second-ranked grocer within target markets.
  • Additionally, approximately 71% of the company's annualized based rent (ABR) is from necessity-based good and services.
  • Its leverage profile is supported by its well-laddered debt maturity profile, with no significant maturities until November 2025.
  • The company has been operating with leverage below that target, supported by solid operating performance and external growth funded in a relatively leverage-neutral manner.

Phillips Edison & Company Inc. Invites You to Join Its Fourth Quarter and Full Year 2023 Earnings Conference Call

Retrieved on: 
Monday, January 8, 2024
Phillips Edison & Company, Conference, Webcast, PECO

CINCINNATI, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, will announce its Fourth Quarter and Full Year 2023 earnings results on Thursday, February 8, 2024, after the market closes.

Key Points: 
  • CINCINNATI, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers, will announce its Fourth Quarter and Full Year 2023 earnings results on Thursday, February 8, 2024, after the market closes.
  • PECO’s earnings release and supplemental information package will be posted on the Investor Relations section of the Company’s website at https://investors.phillipsedison.com/ .
  • Chairman and Chief Executive Officer Jeff Edison, President Bob Myers, Managing Director Devin Murphy and Chief Financial Officer John Caulfield will host an earnings conference call, which will also be webcast, on Friday, February 9, 2024, at 12:00 p.m.
  • Fourth Quarter and Full Year 2023 Earnings Conference Call Details:
    A webcast replay will be available approximately one hour after the conclusion of the presentation using the same link.