Phillips Edison raises 2026 core FFO outlook

Phillips Edison & Company

23/04/2026 21:32

Overview

U.S. grocery-anchored shopping center owner's Q1 net income and EPS rose yr/yr

Core FFO per share grew 6.2% yr/yr, same-center NOI increased 3.5%

Company acquired $125.5 mln in assets and completed previously announced $350 mln debt offering

Outlook

Phillips Edison raises 2026 net income per share forecast to $0.79-$0.81 from $0.74-$0.77

Company increases 2026 Core FFO per share guidance to $2.72-$2.78 from $2.71-$2.77

Phillips Edison expects 2026 same-center NOI growth of 3.00%-4.00%

Result Drivers

PORTFOLIO OCCUPANCY - High leased portfolio occupancy and steady traffic at grocery-anchored shopping centers supported results, per CEO Jeff Edison

RENT SPREADS - Comparable portfolio new leases at rent spread of 36.2%, comparable inline new leases at record-high rent spread of 37.9%

ACQUISITIONS - Asset acquisitions added to portfolio growth and are expected to drive value through occupancy increases and rent growth

Company press release: ID:nGNX2x9fZm

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$0.24
Q1 Net Income
$30.40 mln


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 7.2% above its April 22 closing price of $38.24

The stock recently traded at 52 times the next 12-month earnings vs. a P/E of 54 three months ago

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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.)