Phillips Edison's Q3 Core FFO per share up; lifts FY forecast on strong leasing and occupancy

By Reuters News


Overview

  • US grocery-anchored shopping center REIT's Q3 Core FFO per share rose 9.2% yr/yr

  • Q3 same-center NOI increased 5.3% from a year earlier

  • Company raised full-year 2026 earnings guidance, citing strong leasing and occupancy


Outlook

  • Company raises 2026 net income guidance to $1.21-$1.24 per diluted share

  • Company lifts 2026 Nareit FFO guidance to $2.68-$2.72 per diluted share

  • Phillips Edison maintains 2026 acquisition guidance at $600 mln-$700 mln


Result Drivers

  • RECORD RENT SPREADS - Co said record renewal and new lease rent spreads contributed to Q3 results

  • HIGH OCCUPANCY - Co reported leased portfolio occupancy of 97.5% and same-center leased portfolio occupancy of 97.8%

  • ACQUISITIONS - Co acquired three shopping centers and land parcels totaling $181.8 mln in Q3, expecting value from occupancy increases and rent growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.49

Q3 Net Income

$62.7 mln

Q3 Core FFO Per Share

$0.71


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 & Company, Inc. is $43.00, about 12.1% above its October 23 closing price of $38.36

  • The stock recently traded at 46 times the next 12-month earnings vs. a P/E of 52 three months ago


Reuters Recommended Reads

  • Oct 26 - Brixmor Property Group Q3 FFO rises, dividend up 7.3%

  • Oct 26 - Welltower Q3 normalized FFO per share rises 25%, guidance raised

  • Oct 26 - Easterly Government Properties Q3 Core FFO tops estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk