Phillips Edison Q2 revenue beats estimates, raises FY guidance

Overview

• Phillips Edison Q2 revenue of $177.8 mln, beats expectations, per LSEG data

• Q2 Core FFO per share rises 10.3% to $0.64

• Co raises full-year 2025 earnings guidance

Outlook

• Phillips Edison raises 2025 net income guidance to $0.61-$0.64 per share

• Company increases 2025 Nareit FFO guidance to $2.50-$2.54 per share

• Phillips Edison raises 2025 Core FFO guidance to $2.55-$2.60 per share

• Company expects 2025 same-center NOI growth of 3.10%-3.60%

Result Drivers

• SAME-CENTER NOI - Increased by 4.2% year-over-year, indicating improved operational performance

• RENT SPREADS - Executed new and renewal leases at significant rent spreads, boosting rental income

• ACQUISITIONS - Acquired six shopping centers, contributing to portfolio expansion and revenue growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy"

• Wall Street's median 12-month price target for Phillips Edison & Co Inc is $39.00, about 10.7% above its July 23 closing price of $34.82

• The stock recently traded at 56 times the next 12-month earnings vs. a P/E of 59 three months ago

Press Release: ID:nGNX5b46vX