Phillips Edison(NASDAQ) PECO

Phillips Edison & Company owns and runs grocery-anchored shopping centers. It helps people buy food and daily essentials close to home. These centers serve neighborhoods across the United States.

What Is in the Shopping Cart?

• Wholly Owned Portfolio: Operates 302 shopping centers where 94.1% of annualized base rent comes from grocery-anchored properties as of June 30, 2026.
• Necessity-Based Retail: Focuses on tenants providing essential goods and services; these accounts for 74.5% of annualized base rent as of June 30, 2026.
• Investment Management: Manages properties for third-party funds through a specialized real estate service business.
• Joint Ventures: Owns interests in 28 shopping centers through three institutional partnerships to leverage capital as of June 30, 2026.

Expanding the Neighborhood Footprint

• Acquired 10 properties and one land parcel for a total contract price of $266.9 million during the six months ended June 30, 2026.
• Sold four properties and one outparcel for $86.9 million in the first half of 2026 to optimize the portfolio.
• Issued $350 million of senior notes due 2033 in February 2026 to manage capital resources.
• Allocated $50.5 million to capital expenditures and redevelopment projects during the six-month period ended June 30, 2026.

Why These Centers Stay Full

The company focuses on centers anchored by leading grocers, which provide stable foot traffic even during economic shifts. Its vertically integrated platform manages everything from leasing to redevelopment across a portfolio of 37.4 million square feet.

By the Numbers

• Total revenue was $189.6 million in the three-month period ended June 30, 2026, up 6.7% year over year.
• Rental income reached $184.5 million during the second quarter of 2026, an increase of 6.3% year over year.
• Core Funds From Operations (Core FFO) reached $191.9 million for the six-month period ended June 30, 2026.
• Total enterprise value was $8.4 billion as of June 30, 2026.
• Net debt to annualized non-GAAP Adjusted EBITDAre was 5.1x at the end of June 2026.

Evolution of Essential Retail

Phillips Edison has built a national footprint centered on necessity-based retail and top-tier grocery anchors. This focus on essential services has allowed the company to maintain high occupancy and steady rental growth.