Phillips Edison & Company, Inc. ( (PECO) ) has released its Q4 earnings. Here is a breakdown of the information Phillips Edison & Company, Inc. presented to its investors.
Phillips Edison & Company, Inc. (PECO) is a leading owner and operator of grocery-anchored neighborhood shopping centers across the United States, recognized for its robust portfolio and strong market presence.
In its recent earnings report, PECO announced a solid financial performance for the fourth quarter and full year of 2024, highlighting growth in key financial metrics and strategic acquisitions.
The company reported a net income attributable to stockholders of $18.1 million for the fourth quarter and $62.7 million for the full year, showing an increase from the previous year. Nareit FFO per share grew by 5.3% to $2.37 and Core FFO per share increased by 3.8% to $2.43 for the full year. PECO’s leasing activities remained strong with a leased portfolio occupancy of 97.7% and impressive rent spreads on new and renewal leases. The company acquired 14 shopping centers and four land parcels, totaling $305.7 million in 2024.
Looking ahead, PECO’s guidance for 2025 suggests continued growth with expected increases in Nareit FFO and Core FFO per share, alongside a strategic acquisition plan ranging from $350 million to $450 million. The company’s management remains optimistic about future growth driven by internal efficiencies and expanded acquisition strategies.