Phillips Edison Q2 net income and Core FFO up; co raises FY guidance

Phillips Edison & Company

23/07/2026 21:32

    

    Overview
  
U.S. shopping center REIT's Q2 net income and Core FFO per share rose yr/yr
Same-center NOI grew 3.8% yr/yr, driven by higher rental income and occupancy
Company raised 2026 earnings and acquisition guidance amid record-high leased inline occupancy

    

    Outlook
  
Company raises 2026 net income per share guidance to $0.95-$0.97 from $0.79-$0.81
Company raises 2026 Nareit FFO per share guidance to $2.67-$2.72 from $2.66-$2.71
Company raises 2026 gross acquisitions guidance to $500 mln-$600 mln from $400 mln-$500 mln

    

    Result Drivers
  
RENT GROWTH AND LEASING ACTIVITY - Co cited higher rental income, record-high leased inline occupancy, and strong rent spreads on new and renewal leases as key drivers of growth
PORTFOLIO ACQUISITIONS - Acquisitions of new shopping centers contributed to revenue and NOI growth, with co expecting to drive value through occupancy and rent increases

    
Company press release: ID:nGNX8rkyrV

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 EPS
 
$0.33
 
Q2 Net Income
 
$41.10 mln
 
Q2 Core FFO Per Share
 
$0.69
 

    

    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 $44.50, about 2.6% above its July 22 closing price of $43.36
The stock recently traded at 55 times the next 12-month earnings vs. a P/E of 52 three months ago

    

    Reuters Recommended Reads
  
July 22 - EastGroup Properties raises 2026 FFO outlook on strong leasing
July 22 - Netstreit Q2 net income per share up 50%, co lifts FY AFFO guidance
July 22 - Equity Residential suspends annual earnings outlook, quarterly FFO rises

    
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)