Phillips Edison & Company Reports Third Quarter 2026 Results

CINCINNATI, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the “Company”), one of the nation’s largest owners and operators of high-quality, grocery-anchored neighborhood shopping centers, today reported financial and operating results for the period ended September 30, 2026 and provided updated 2026 earnings guidance. For the three and nine months ended September 30, 2026, net income attributable to stockholders was $62.7 million, or $0.49 per diluted share, and $134.2 million, or $1.05 per diluted share, respectively.

Highlights for the Third Quarter * Reported Nareit FFO of $0.69 per diluted share, representing 7.8% year-over-year growth * Reported Core FFO of $0.71 per diluted share, representing 9.2% year-over-year growth * Increased same-center NOI year-over-year by 5.3% * The increased midpoint of full year 2026 Nareit FFO per diluted share guidance of $2.70 represents 6.3% year-over-year growth * The increased midpoint of full year 2026 Core FFO per diluted share guidance of $2.77 represents 6.5% year-over-year growth * The increased midpoint of full year 2026 same-center NOI guidance represents 3.75% year-over-year growth * Full year 2026 gross acquisitions guidance reflects a range of $600 million to $700 million * Acquired two grocery-anchored shopping centers, one Everyday Retail™ center and land parcels for a total of $181.8 million and sold $87.1 million in assets * Reported strong leased portfolio occupancy of 97.5% and same-center leased portfolio occupancy of 97.8% * Reported leased anchor occupancy of 99.0% and same-center leased anchor occupancy of 99.2% * Reported leased inline occupancy of 95.1% and same-center leased inline occupancy of 95.4% * Executed comparable portfolio new and inline leases at a rent spread of 26.3% during the quarter * Executed comparable portfolio renewal leases at a record rent spread of 25.2% and comparable inline renewal leases at a record-high rent spread of 24.2% during the quarter * Generated net proceeds of $6.4 million through the issuance of 0.2 million common shares at a gross weighted average price of $42.20 per common share through PECO’s ATM program * Trailing 12-month net debt to annualized adjusted EBITDAre at September 30, 2026 was 5.2x Subsequent Highlights * Acquired two grocery-anchored shopping centers for $59.4 million at PECO’s total prorated share and sold a land parcel for $0.9 million * Year to date through October 26, 2026, acquired $519.1 million in assets at PECO’s total prorated share and sold $174.8 million in assets * Expanded and extended by 10 years the joint venture partnership with Northwestern Mutual to acquire 13 high-quality, grocery-anchored shopping centers valued at approximately $377.5 million and currently owned and operated by PECO across eight states * Closed on a new $350 million unsecured term loan with a portion of proceeds used to pay down the $162 million term loan due January 2027, lowering the interest rate by approximately 30 basis points Management Commentary