Phillips Edison Q4 net income rises

Overview

• Retail property owner's Q4 net income rose to $47.5 mln, up from $18.1 mln yr/yr

• Nareit FFO for Q4 increased 5.9% to $88.8 mln

• Company achieved record-high leased inline occupancy of 95.1%

Outlook

• Phillips Edison expects 2026 Nareit FFO per share between $2.65 and $2.71

• Company projects 2026 Core FFO per share between $2.71 and $2.77

• Phillips Edison forecasts 2026 Same-Center NOI growth of 3% to 4%

Result Drivers

• RENT SPREADS - Executed new leases at a 34.3% rent spread and renewal leases at a 20.0% rent spread during Q4

• HIGH OCCUPANCY - Achieved record-high leased inline occupancy of 95.1%

• ASSET ACQUISITIONS - Acquired $395.5 mln in assets for the full year, focusing on grocery-anchored centers

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "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 $41.00, about 10.2% above its February 4 closing price of $37.22

• The stock recently traded at 55 times the next 12-month earnings vs. a P/E of 52 three months ago

Press Release: ID:nGNXn6X7W

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