Phillips Edison reports Q3 core FFO 62c, consensus 61c

Reports Q3 revenue $165.53M, consensus $165.41M. Jeff Edison, chairman and CEO of PECO stated: “The ongoing strength of our performance is attributable to our differentiated and focused strategy of owning right-sized, high-quality, grocery-anchored neighborhood shopping centers anchored by the #1 or #2 grocer by sales in a market. Our results at the property level are driven by our integrated operating platform and our experienced and cycle-tested team. Based on the continued strong operating environment and health of our Neighbors, we are pleased to increase our full year 2024 earnings guidance for Core FFO per share. In addition, we are increasing our full year 2024 acquisitions guidance to $275 million to $325 million, net of dispositions. We continue to have the capabilities and leverage capacity to acquire more assets as attractive opportunities materialize.”