Phillips Edison & Company, Inc. PECO
Phillips Edison & Company, Inc. (PECO) is an internally managed real estate investment trust that stands as one of America's foremost owners and operators of shopping centers anchored by grocery stores. Its diverse portfolio consists of highly occupied neighborhood retail hubs, featuring a blend of national and regional businesses that supply essential goods and services within robust U.S. markets. Leveraging its integrated operational platform, the company oversees 309 properties, including 283 fully owned assets spanning approximately 31.7 million square feet across 31 states (as of September 30, 2020). PECO has consistently delivered strong financial performance throughout its more than 29-year existence and has collaborated with prominent institutional commercial real estate investors such as TPG Real Estate and The Northwestern Mutual Life Insurance Company. The firm remains dedicated to enhancing grocery-anchored retail experiences and uplifting the communities it serves, one location at a time.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-04-23) — 8-K, EX-99.1.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $732.30M | $111.30M | $266.37M | $505.75M | $348.15M |
| 2024 | $661.39M | $62.69M | $238.52M | $410.97M | $334.71M |
| 2023 | $610.12M | $56.85M | $226.14M | $380.33M | $290.97M |
| 2022 | $575.37M | $48.32M | $224.93M | $355.62M | $290.89M |
| 2021 | $532.85M | $15.12M | $217.85M | $322.15M | $262.90M |
| 2020 | $498.02M | $4.77M | $221.51M | $298.95M | $210.58M |
Dividends
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-07-15 | 2026-07-15 | 2026-08-04 | 2026-05-12 | $0.11 | Monthly |
| 2026-06-15 | 2026-06-15 | 2026-07-01 | 2026-05-12 | $0.11 | Monthly |
| 2026-05-15 | 2026-05-15 | 2026-06-02 | 2026-02-12 | $0.11 | Irregular |
| 2026-04-15 | 2026-04-15 | 2026-05-01 | 2026-02-12 | $0.11 | Quarterly |
| 2026-03-16 | 2026-03-16 | 2026-04-01 | 2026-02-12 | $0.11 | Quarterly |
| 2026-02-17 | 2026-02-17 | 2026-03-03 | 2025-11-05 | $0.11 | Monthly |
| 2026-01-15 | 2026-01-15 | 2026-02-03 | 2025-11-05 | $0.11 | Monthly |
| 2025-12-15 | 2025-12-15 | 2026-01-06 | 2025-11-05 | $0.11 | Monthly |
| 2025-11-17 | 2025-11-17 | 2025-12-02 | 2025-11-05 | $0.11 | Monthly |
| 2025-10-15 | 2025-10-15 | 2025-11-04 | 2025-09-02 | $0.11 | Monthly |
| 2025-09-15 | 2025-09-15 | 2025-10-01 | 2025-09-02 | $0.11 | Monthly |
| 2025-08-15 | 2025-08-15 | 2025-09-03 | 2025-08-05 | $0.10 | Monthly |
| 2025-07-15 | 2025-07-15 | 2025-08-01 | 2025-05-01 | $0.10 | Monthly |
| 2025-06-16 | 2025-06-16 | 2025-07-01 | 2025-05-01 | $0.10 | Monthly |
| 2025-05-16 | 2025-05-16 | 2025-06-03 | 2025-05-01 | $0.10 | Monthly |
| 2025-04-15 | 2025-04-15 | 2025-05-01 | 2025-02-12 | $0.10 | Monthly |
| 2025-03-17 | 2025-03-17 | 2025-04-01 | 2025-02-12 | $0.10 | Monthly |
| 2025-02-18 | 2025-02-18 | 2025-03-04 | 2024-10-30 | $0.10 | Monthly |
| 2025-01-15 | 2025-01-15 | 2025-02-04 | 2024-10-30 | $0.10 | Monthly |
| 2024-12-16 | 2024-12-16 | 2025-01-03 | 2024-10-30 | $0.10 | Monthly |
| 2024-11-15 | 2024-11-15 | 2024-12-03 | 2024-10-30 | $0.10 | Monthly |
| 2024-10-15 | 2024-10-15 | 2024-11-01 | 2024-09-03 | $0.10 | Monthly |
| 2024-09-16 | 2024-09-16 | 2024-10-01 | 2024-09-03 | $0.10 | Monthly |
| 2024-08-15 | 2024-08-15 | 2024-09-04 | 2024-07-31 | $0.10 | Monthly |
Coverage (payout of operating cash flow): 51.85%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.