Tearsheet

Phillips Edison (PECO)

Market Price (5/11/2026): $39.4 | Market Cap: $5.0 Bil
Sector: Real Estate | Industry: Retail REITs

Phillips Edison (PECO)

Market Price (5/11/2026): $39.4
Market Cap: $5.0 Bil
Sector: Real Estate
Industry: Retail REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, Dividend Yield is 3.2%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 46%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%

Low stock price volatility
Vol 12M is 16%

Megatrend and thematic drivers
Megatrends include Sustainable & Green Buildings, E-commerce & DTC Adoption, and Smart Buildings & Proptech. Themes include ESG REITs, Show more.

Trading close to highs
Dist 52W High is -1.6%, Dist 3Y High is -1.6%

Weak multi-year price returns
2Y Excs Rtn is -16%, 3Y Excs Rtn is -36%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 52%

Key risks
PECO key risks include [1] accelerated e-commerce adoption undermining its grocery-anchored model and [2] the potential for financial difficulties at a major grocery anchor.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, Dividend Yield is 3.2%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 46%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 28%
2	Low stock price volatility Vol 12M is 16%
3	Megatrend and thematic drivers Megatrends include Sustainable & Green Buildings, E-commerce & DTC Adoption, and Smart Buildings & Proptech. Themes include ESG REITs, Show more.
4	Trading close to highs Dist 52W High is -1.6%, Dist 3Y High is -1.6%
5	Weak multi-year price returns 2Y Excs Rtn is -16%, 3Y Excs Rtn is -36%
6	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 52%
7	Key risks PECO key risks include [1] accelerated e-commerce adoption undermining its grocery-anchored model and [2] the potential for financial difficulties at a major grocery anchor.

Valuation, Metrics & Events

	5/11/26	2025	2024	2023	2022
Share Price CYE	$39.40	$35.57	$37.46	$36.48	$31.84
Market Cap CYE ($ Bil)	5.0	4.5	4.6	4.4	3.7
Total Debt ($ Bil)	2.6	2.5	2.2	2.1	2.0
Total Cash ($ Bil)	0.0	0.0	0.0	0.0	0.0
Enterprise Value ($ Bil)	7.6	7.0	6.8	6.5	5.7
Valuation Ratios
P/S TTM	6.7	6.2	7.0	7.2	6.5
P/EBIT TTM	20.6	19.2	28.0	29.6	29.7
P/E TTM	43.0	40.2	74.0	77.2	77.2
P/FCF TTM	24.0	21.1	19.3	22.4	20.0
Sector Ratios
P/S TTM (Sector)	4.2	4.2	5.0	4.6	4.4
P/EBIT TTM (Sector)	13.5	13.7	15.5	14.9	14.7
P/E TTM (Sector)	22.7	21.2	24.0	21.1	22.0
P/FCF TTM (Sector)	14.1	12.8	13.6	12.8	12.7

	5/11/26	2025	2024
Share Price CYE	$39.40	$35.57	$37.46
Market Cap CYE ($ Bil)	5.0	4.5	4.6
Total Debt ($ Bil)	2.6	2.5	2.2
Total Cash ($ Bil)	0.0	0.0	0.0
Enterprise Value ($ Bil)	7.6	7.0	6.8
Valuation Ratios
P/S TTM	6.7	6.2	7.0
P/EBIT TTM	20.6	19.2	28.0
P/E TTM	43.0	40.2	74.0
P/FCF TTM	24.0	21.1	19.3
Sector Ratios
P/S TTM (Sector)	4.2	4.2	5.0
P/EBIT TTM (Sector)	13.5	13.7	15.5
P/E TTM (Sector)	22.7	21.2	24.0
P/FCF TTM (Sector)	14.1	12.8	13.6

	PECO	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	0.7
Rev Chg Q	7.0%	8.7%
Rev Chg LTM	8.9%	7.3%
Rev Chg 3Y Avg	8.2%	5.8%
PROFITABILITY	GOOD
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	27.8%	18.4%
CFO/Rev LTM	46.4%	21.0%
Net Inc Mgn	15.6%	12.9%
VALUATION	VERY HIGH
P/S	6.7	3.2
P/CFO	14.5	14.9
P/FCF	24.0	19.5
P/E	43.0	23.7

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Metric	Value	Date	Source
Portfolio Occupancy	97.6%	9302025	Link
Anchor Occupancy	99.2%	9302025	Link
Same-Store Inline Occupancy	95%	9302025	Link
Comparable Renewal Rent Spreads	23.2%	9302025	Link
New Leasing Rent Spreads	24.5%	9302025	Link
Tenant Retention Rate	94%	9302025	Link

Recent
4/15/2026	Dividend	Amount: $0.11 Payment On: 5/01/2026
4/23/2026	Earnings Release	Rev: $186 Mil (A) vs. $183 Mil (E) EPS: 0.24 (A) vs. $0.17 (E)
Upcoming
5/15/2026	Dividend	Amount: $0.11 Payment On: 6/02/2026
7/23/2026	Earnings Release	Rev: $186 Mil (E) EPS: $0.18 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Phillips Edison (PECO) stock has gained about 10% since 1/31/2026 because of the following key factors:

1. Strong Q1 2026 Financial Performance and Raised Full-Year Guidance. Phillips Edison reported a 6.2% year-over-year increase in Core FFO per diluted share, reaching $0.69, and a 4.7% rise in Nareit FFO per diluted share to $0.67 for the first quarter of 2026. The company subsequently raised its full-year 2026 guidance, projecting a 5.8% increase in Core FFO per share and a 5.9% increase in Nareit FFO per share at the midpoint compared to 2025.

2. Enhanced Liquidity and Strengthened Balance Sheet. In February 2026, Phillips Edison successfully completed a public debt offering of $350 million aggregate principal amount of 4.750% senior notes due 2033. The proceeds from this offering were utilized to repay existing debt, which contributed to a total liquidity of approximately $810 million and increased the proportion of fixed-rate debt to 94.4% of the company's total debt.

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Stock Movement Drivers

Fundamental Drivers

The 10.6% change in PECO stock from 1/31/2026 to 5/10/2026 was primarily driven by a 35.6% change in the company's Net Income Margin (%).

(LTM values as of)	1312026	5102026	Change
Stock Price ($)	35.92	39.72	10.6%
Change Contribution By:
Total Revenues ($ Mil)	712	739	3.8%
Net Income Margin (%)	11.5%	15.6%	35.6%
P/E Multiple	55.1	43.3	-21.3%
Shares Outstanding (Mil)	126	126	-0.2%
Cumulative Contribution			10.6%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/10/2026

	Return	Correlation
PECO	10.6%
Market (SPY)	3.6%	9.9%
Sector (XLRE)	7.9%	51.3%

Fundamental Drivers

The 19.5% change in PECO stock from 10/31/2025 to 5/10/2026 was primarily driven by a 35.6% change in the company's Net Income Margin (%).

(LTM values as of)	10312025	5102026	Change
Stock Price ($)	33.24	39.72	19.5%
Change Contribution By:
Total Revenues ($ Mil)	712	739	3.8%
Net Income Margin (%)	11.5%	15.6%	35.6%
P/E Multiple	51.0	43.3	-15.0%
Shares Outstanding (Mil)	126	126	-0.2%
Cumulative Contribution			19.5%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/10/2026

	Return	Correlation
PECO	19.5%
Market (SPY)	5.5%	-2.8%
Sector (XLRE)	10.5%	47.7%

Fundamental Drivers

The 18.6% change in PECO stock from 4/30/2025 to 5/10/2026 was primarily driven by a 48.5% change in the company's Net Income Margin (%).

(LTM values as of)	4302025	5102026	Change
Stock Price ($)	33.48	39.72	18.6%
Change Contribution By:
Total Revenues ($ Mil)	678	739	8.9%
Net Income Margin (%)	10.5%	15.6%	48.5%
P/E Multiple	58.8	43.3	-26.3%
Shares Outstanding (Mil)	125	126	-0.5%
Cumulative Contribution			18.6%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/10/2026

	Return	Correlation
PECO	18.6%
Market (SPY)	30.4%	21.0%
Sector (XLRE)	11.3%	60.4%

Fundamental Drivers

The 39.7% change in PECO stock from 4/30/2023 to 5/10/2026 was primarily driven by a 85.9% change in the company's Net Income Margin (%).

(LTM values as of)	4302023	5102026	Change
Stock Price ($)	28.44	39.72	39.7%
Change Contribution By:
Total Revenues ($ Mil)	575	739	28.4%
Net Income Margin (%)	8.4%	15.6%	85.9%
P/E Multiple	68.9	43.3	-37.1%
Shares Outstanding (Mil)	117	126	-7.0%
Cumulative Contribution			39.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/10/2026

	Return	Correlation
PECO	39.7%
Market (SPY)	78.7%	36.4%
Sector (XLRE)	30.4%	70.8%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
PECO Return	20%	-0%	19%	6%	-2%	14%	69%
Peers Return	278%	-13%	9%	18%	-5%	16%	367%
S&P 500 Return	27%	-19%	24%	23%	16%	7%	95%
Monthly Win Rates [3]
PECO Win Rate	83%	42%	58%	67%	42%	60%
Peers Win Rate	72%	37%	55%	58%	42%	68%
S&P 500 Win Rate	75%	42%	67%	75%	67%	60%
Max Drawdowns [4]
PECO Max Drawdown	-2%	-15%	-10%	-14%	-10%	-2%
Peers Max Drawdown	-3%	-26%	-13%	-10%	-16%	-1%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-7%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: REG, KIM, BRX, FRT, IVT.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/8/2026 (YTD)

Event	PECO	S&P 500
2023 SVB Regional Banking Crisis
% Loss	-16.9%	-6.7%
% Gain to Breakeven	20.3%	7.1%
Time to Breakeven	22 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-16.8%	-24.5%
% Gain to Breakeven	20.2%	32.4%
Time to Breakeven	74 days	427 days

Compare to REG, KIM, BRX, FRT, IVT

In The Past

Phillips Edison's stock fell -6.0% during the 2025 US Tariff Shock. Such a loss loss requires a 6.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

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Event

Compare to REG, KIM, BRX, FRT, IVT

In The Past

Phillips Edison's stock fell -6.0% during the 2025 US Tariff Shock. Such a loss loss requires a 6.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Phillips Edison (PECO)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Phillips Edison & Company, Inc. (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States. Through its vertically-integrated operating platform, the Company manages a portfolio of 309 properties, including 283 wholly-owned properties comprising approximately 31.7 million square feet across 31 states (as of September 30, 2020). PECO has generated strong operating results over its 29+ year history and has partnered with leading institutional commercial real estate investors, including TPG Real Estate and The Northwestern Mutual Life Insurance Company. The Company remains exclusively focused on creating great grocery-anchored shopping experiences and improving the communities it serves one center at a time.

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Analogy 1: Think of PECO as the Simon Property Group for everyday necessity shopping. Instead of grand regional malls, PECO owns and operates the neighborhood centers anchored by your local grocery store.

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Leasing of Grocery-Anchored Retail Space: Phillips Edison provides rental units in its portfolio of grocery-anchored shopping centers to various national and regional retailers.

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Jeffrey S. Edison, Chairman and Chief Executive Officer
Co-founded Phillips Edison & Company in 1995, serving as a principal since its inception and as Chairman and CEO since December 2009. Prior to co-founding PECO, he gained experience at NationsBank's South Charles Realty Corporation (Senior Vice President 1993-1995, Vice President 1991-1993), Morgan Stanley Realty Incorporated (1987-1990), and The Taubman Company (1984-1987). Mr. Edison also served as Chairman and CEO of Phillips Edison Grocery Center REIT III, Inc. and Phillips Edison Grocery Center REIT II, Inc. until their mergers with PECO in 2019 and 2018, respectively.

John P. Caulfield, Executive Vice President, Chief Financial Officer and Treasurer
Joined Phillips Edison in March 2014 as Vice President of Treasury and Investor Relations, rising to Senior Vice President of Finance in January 2016, and assuming the role of Chief Financial Officer and Treasurer in August 2019. Before his tenure at PECO, he was Vice President of Treasury and Investor Relations at CyrusOne Inc. from 2012 to 2014, where he played a key role in the company's successful spinoff and IPO from Cincinnati Bell. He also held various treasury, finance, and accounting positions at Cincinnati Bell for seven years, including Assistant Treasurer and Director of Investor Relations. Mr. Caulfield is a Certified Public Accountant.

Robert F. Myers, President
Appointed President of Phillips Edison & Company on January 1, 2024. His previous roles at PECO include Chief Operating Officer (from October 2010) and Executive Vice President (from August 2020). He began his career with PECO in 2003 as a Senior Leasing Manager and advanced through various leasing and operations management positions. Prior to joining Phillips Edison, Mr. Myers spent six years with Equity Investment Group, starting as a Property Manager in 1997.

Tanya E. Brady J.D., Executive Vice President, Chief Legal and Administrative Officer
Ms. Brady serves as Executive Vice President, Chief Legal and Administrative Officer for Phillips Edison & Company. She is also listed as General Counsel and Secretary.

Joseph G. Schlosser, Chief Operating Officer and Executive Vice President
Mr. Schlosser holds the titles of Chief Operating Officer and Executive Vice President at Phillips Edison & Company.

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1. Dependence on Anchor Tenants

Phillips Edison's business model is highly reliant on its grocery anchor tenants. A significant risk lies in the potential loss, failure, or bankruptcy of these major tenants, such as Kroger, Publix, and Ahold Delhaize. The departure of an anchor tenant can trigger co-tenancy clauses in leases, allowing other smaller tenants to demand reduced rent or even terminate their leases, thereby eroding PECO's rental income. Re-leasing large anchor spaces can be a costly and time-consuming endeavor. While a high percentage of revenue from grocery anchors provides stability, it also increases concentration risk.

2. Macroeconomic Headwinds and Retail Sector Challenges

PECO is exposed to broader macroeconomic uncertainties and evolving retail dynamics. This includes the impact of higher interest rates, which can increase the company's borrowing costs for existing debt and make future acquisitions and development projects more expensive. Inflationary pressures can also raise operating costs and potentially strain consumers' discretionary spending, even for necessity-based goods. Although grocery-anchored centers are generally considered resilient to e-commerce, the ongoing growth of online shopping remains a competitive pressure on brick-and-mortar retail and could impact foot traffic and tenant retention in the long term.

3. Tenant Health and Increased Bad Debt

The financial health of PECO's tenant base, including both anchor and smaller inline tenants, presents a key risk. Concerns about increasing bad debt and potential tenant bankruptcies or store closures directly threaten the company's occupancy rates and rental income stability. Higher levels of bad debt can negatively impact cash flow and profitability and may signal broader financial instability among tenants, potentially leading to a cycle of declining occupancy and reduced foot traffic across the shopping centers.

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The primary addressable market for Phillips Edison (PECO), an owner and operator of grocery-anchored shopping centers, is the United States grocery retail market.

The U.S. grocery retail market is projected to exceed $1.5 trillion by 2027, growing at a compound annual growth rate (CAGR) of 3.1%. This figure represents the sales generated by the grocery businesses that serve as anchors for PECO's properties, highlighting the significant economic activity driving demand for their real estate. Investments in grocery-anchored retail spaces accounted for approximately 22% of all retail center acquisitions in 2023. Furthermore, multi-tenant, grocery-anchored retail transactions totaled $7.0 billion in 2024.

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Phillips Edison & Company (PECO) anticipates several key drivers for its future revenue growth over the next two to three years, primarily stemming from its focus on grocery-anchored shopping centers and strategic capital allocation.

Strong Leasing Spreads and High Occupancy: PECO consistently demonstrates its ability to achieve significant rent growth on both new and renewal leases due to robust demand for space in its grocery-anchored centers. The company reported comparable new lease spreads of 30.2% and renewal lease spreads of 20.8% in Q4 2024. Similarly, in Q2 2025, new lease spreads were 34.6% and renewal lease spreads were 19.1%. This pricing power, coupled with high leased portfolio occupancy (97.7% in Q4 2024) and strong inline leased occupancy, ensures a steady and increasing stream of rental income.
Strategic Acquisitions of Grocery-Anchored and Everyday Retail Centers: External growth through strategic acquisitions is a significant driver. PECO actively acquires high-quality, necessity-based retail properties. In 2023, the company acquired 11 shopping centers for $272 million. For 2024, PECO targeted $275 million to $325 million in acquisitions, and completed $396 million in gross acquisitions by December 2025. The company has set a target of $400 million to $500 million in gross acquisitions for 2026, including a focus on "everyday retail centers" as a natural complement to its core grocery-anchored portfolio.
Development and Redevelopment Activities: PECO also drives revenue growth through internal development and redevelopment projects within its existing portfolio. For instance, in Q2 2025, the company highlighted a robust development pipeline with 21 projects under active construction, expected to generate yields between 9% and 12%. The company anticipates investing $40 million to $50 million annually in these projects to contribute to Net Operating Income (NOI) growth.
Portfolio Optimization and Recycling: The company actively manages its portfolio by recycling capital from lower-performing or stabilized assets into higher-growth opportunities. This strategy involves dispositions, with plans to sell $100 million to $200 million in assets in 2026, to fund acquisitions and development activities, thereby enhancing the overall quality and growth potential of the portfolio.

AI Analysis | Feedback


  
    Share Repurchases
    
      Phillips Edison is always evaluating share repurchases but currently prioritizes property acquisitions and redevelopments over buying back stock.
      In late 2020, PECO intended to launch a voluntary tender offer to repurchase up to 4.5 million shares of common stock at $5.75 per share, totaling approximately $26 million.
      The company expected to recommence repurchases under its DDI portion of the amended and restated SRP in January 2021.
    
    Share Issuance
    
      In July 2021, Phillips Edison completed its underwritten IPO, which was priced at $28.00 per share, generating approximately $547 million in total gross proceeds, including the overallotment.
      Phillips Edison is open to future equity issuance, contingent on identifying quality investments.
      The company's growth plans are not dependent on access to the equity capital markets.
    
    Outbound Investments
    
      In 2025, PECO acquired approximately $400 million in assets at its share, including $356.9 million in wholly-owned assets and $38.6 million in unconsolidated joint venture assets, while also selling $145.4 million in assets.
      In 2024, PECO acquired over $300 million (approximately $306 million) in 14 shopping centers and four land parcels.
      For 2026, Phillips Edison targets gross acquisitions of $400 million to $500 million and plans to dispose of $100 million to $200 million of assets.
    
    Capital Expenditures
    
      In 2025, PECO completed 23 development and redevelopment projects, investing $53.8 million across 0.4 million square feet.
      For 2026, the company expects capital expenditures to be between $140 million and $160 million, with $70 million to $90 million specifically allocated to development and redevelopment projects.
      Capital expenditures, particularly for 2025 and 2026, are expected to be around $70 million annually, with an average of $50 million per year, due to several significant teardown rebuild projects for Publix.

Interactive Breakdown

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JPM (7.2%)

JPMorgan Chase

BRK-B (7.1%)

Berkshire Hathaway

XOM (7.0%)

Exxon Mobil

JNJ (6.3%)

Johnson & Johnson

Best Bets in Real Estate

What You Pay

P/EBIT (Value for PECO: 20.8x)

CTRE (23.8x)

CareTrust REIT

WPC (19.0x)

W.P. Carey

NNN (14.1x)

NNN REIT

OHI (15.9x)

Omega Healthcare Investors

EPRT (17.7x)

Essential Properties Realty Trust

EPR (11.1x)

EPR Properties

VICI (7.7x)

VICI Properties

GLPI (10.6x)

Gaming and Leisure Properties

SPG (10.3x)

Simon Property

VNO (5.3x)

Vornado Realty Trust

P/E (Value for PECO: 43.3x)

CTRE (27.7x)

CareTrust REIT

WPC (31.6x)

W.P. Carey

NNN (21.7x)

NNN REIT

OHI (22.2x)

Omega Healthcare Investors

EPRT (25.7x)

Essential Properties Realty Trust

EPR (16.4x)

EPR Properties

VICI (9.9x)

VICI Properties

GLPI (15.3x)

Gaming and Leisure Properties

SPG (14.2x)

Simon Property

VNO (7.7x)

Vornado Realty Trust

What You Get

Rev Chg 3Y Avg (Value for PECO: 8.2%)

CTRE (32.7%)

CareTrust REIT

WPC (4.4%)

W.P. Carey

NNN (5.9%)

NNN REIT

OHI (13.4%)

Omega Healthcare Investors

EPRT (25.3%)

Essential Properties Realty Trust

EPR (2.9%)

EPR Properties

VICI (9.9%)

VICI Properties

GLPI (6.2%)

Gaming and Leisure Properties

SPG (6.4%)

Simon Property

VNO (0.1%)

Vornado Realty Trust

Rev Chg LTM (Value for PECO: 8.9%)

CTRE (68.8%)

CareTrust REIT

WPC (9.9%)

W.P. Carey

NNN (5.8%)

NNN REIT

OHI (14.0%)

Omega Healthcare Investors

EPRT (24.2%)

Essential Properties Realty Trust

EPR (4.8%)

EPR Properties

VICI (4.1%)

VICI Properties

GLPI (4.4%)

Gaming and Leisure Properties

SPG (6.7%)

Simon Property

VNO (-0.3%)

Vornado Realty Trust

Rev Chg Q (Value for PECO: 7.0%)

CTRE (64.8%)

CareTrust REIT

WPC (10.9%)

W.P. Carey

NNN (4.1%)

NNN REIT

OHI (16.7%)

Omega Healthcare Investors

EPRT (22.8%)

Essential Properties Realty Trust

EPR (4.8%)

EPR Properties

VICI (3.5%)

VICI Properties

GLPI (6.3%)

Gaming and Leisure Properties

SPG (13.2%)

Simon Property

VNO (-0.5%)

Vornado Realty Trust

FCF/Rev 3Y Avg (Value for PECO: 31.4%)

CTRE (92.3%)

CareTrust REIT

WPC (82.5%)

W.P. Carey

NNN (72.3%)

NNN REIT

OHI (71.1%)

Omega Healthcare Investors

EPRT (68.7%)

Essential Properties Realty Trust

EPR (63.2%)

EPR Properties

VICI (61.7%)

VICI Properties

GLPI (59.7%)

Gaming and Leisure Properties

SPG (52.4%)

Simon Property

VNO (44.3%)

Vornado Realty Trust

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 9.6%, alpha of 3.1%, and sharpe of 0.44

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	Phillips Edison Earnings Notes	12/29/2026
2	How Low Can Phillips Edison Stock Really Go?	10/17/2025
3	Phillips Edison vs Alphabet: Which Is A Better Investment?	08/18/2025
4	Phillips Edison vs Realty Income: Which Is A Better Investment?	08/18/2025
5	Better Bet Than PECO Stock: Pay Less Than Phillips Edison To Get More From BKNG, MU	08/12/2025
6	Better Bet Than PECO Stock: Pay Less Than Phillips Edison To Get More From O, EXR	08/12/2025
7	Better Bet Than PECO Stock: Pay Less Than Phillips Edison To Get More From O	08/12/2025

	Title
0	ARTICLES

Trade Ideas

Select ideas related to PECO.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
SBAC_3272026_Dip_Buyer_FCFYield	03272026	SBAC	SBA Communications	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	32.4%	32.4%	0.0%
HIW_3132026_Dip_Buyer_ValueBuy	03132026	HIW	Highwoods Properties	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	13.3%	13.3%	-4.1%
ARE_3062026_Insider_Buying_GTE_1Mil_EBITp+DE_V2	03062026	ARE	Alexandria Real Estate Equities	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	-18.9%	-18.9%	-19.1%
VNO_3062026_Insider_Buying_GTE_1Mil_EBITp+DE_V2	03062026	VNO	Vornado Realty Trust	Insider	Insider Buys \| Low D/EStrong Insider Buying Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	11.0%	11.0%	-8.3%
KRC_2272026_Dip_Buyer_ValueBuy	02272026	KRC	Kilroy Realty	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	13.7%	13.7%	-5.4%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
INOD	Innodata	2.7	86.0%	66.6%
WEST	Westrock Coffee	0.8	39.8%	102.7%
RKLB	Rocket Lab	60.4	34.2%	51.2%
AMN	AMN Healthcare Services	1.1	29.0%	83.8%
FLNC	Fluence Energy	3.2	27.4%	22.1%
AKAM	Akamai Technologies	21.3	26.6%	69.3%
EOSE	Eos Energy Enterprises	2.5	25.9%	-30.1%
PGNY	Progyny	2.0	23.8%	-7.6%
FROG	JFrog	8.4	23.7%	13.0%
MRVI	Maravai LifeSciences	0.7	23.1%	49.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FWRD	Forward Air	0.3	-43.0%	-60.5%
AORT	Artivion	1.2	-28.3%	-44.3%
FIGS	FIGS	1.9	-24.3%	2.4%
NET	Cloudflare	68.9	-23.6%	-0.5%
DXC	DXC Technology	1.6	-21.5%	-35.6%
AMPH	Amphastar Pharmaceuticals	0.9	-20.9%	-29.1%
KDK	Kodiak AI	1.3	-20.4%	-33.7%
HRTG	Heritage Insurance	0.7	-20.0%	-23.4%
KODK	Eastman Kodak	1.1	-19.4%	34.9%
HUBS	HubSpot	10.4	-19.0%	-50.8%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FLNC	Fluence Energy	3.2	98.2%	22.1%
INOD	Innodata	2.7	92.8%	66.6%
DOCN	DigitalOcean	15.0	59.5%	240.7%
GBTG	Global Business Travel	4.9	59.4%	23.5%
STRL	Sterling Infrastructure	25.9	58.6%	175.9%
FLEX	Flex	52.5	55.0%	135.3%
POET	POET Technologies	1.4	49.8%	73.0%
AAON	AAON	11.4	49.2%	83.4%
SITM	SiTime	21.8	49.1%	135.9%
XMTR	Xometry	4.1	49.1%	34.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
EMBC	Embecta	0.2	-60.6%	-68.9%
FWRD	Forward Air	0.3	-53.7%	-60.5%
TRDA	Entrada Therapeutics	0.3	-52.8%	-33.5%
PRIM	Primoris Services	5.7	-41.9%	-15.5%
ULH	Universal Logistics	0.3	-41.8%	-13.6%
BRBR	BellRing Brands	1.2	-40.1%	-61.4%
WGS	GeneDx	1.2	-37.6%	-68.7%
VITL	Vital Farms	0.4	-37.0%	-72.0%
BETR	Better Home & Finance	0.5	-32.2%	-7.7%
TMDX	TransMedics	2.3	-32.2%	-44.2%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MXL	MaxLinear	8.7	403.2%	472.7%
BAND	Bandwidth	1.5	184.9%	222.9%
INOD	Innodata	2.7	135.2%	66.6%
FCEL	FuelCell Energy	0.7	109.2%	87.4%
SITM	SiTime	21.8	104.8%	135.9%
INTC	Intel	635.0	102.4%	238.5%
KOPN	Kopin	1.0	101.9%	131.2%
ABSI	Absci	0.9	100.0%	69.1%
XMTR	Xometry	4.1	97.0%	34.5%
LWLG	Lightwave Logic	2.2	94.7%	407.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
EMBC	Embecta	0.2	-59.0%	-68.9%
TRDA	Entrada Therapeutics	0.3	-51.3%	-33.5%
CAR	Avis Budget	5.1	-50.9%	13.6%
FWRD	Forward Air	0.3	-47.7%	-60.5%
ERAS	Erasca	2.9	-41.7%	172.0%
ULH	Universal Logistics	0.3	-41.7%	-13.6%
TMDX	TransMedics	2.3	-37.9%	-44.2%
VISN	Vistance Networks	2.6	-37.4%	-36.4%
PLNT	Planet Fitness	3.8	-36.6%	-57.7%
INSM	Insmed	21.7	-36.5%	-41.8%

Peer Comparisons

Peers to compare with:

Financials

	PECO	REG	KIM	BRX	FRT	IVT	Median
Name	Phillips.	Regency .	Kimco Re.	Brixmor .	Federal .	InvenTru.
Mkt Price	39.72	77.59	23.48	29.84	115.68	31.34	35.53
Mkt Cap	5.0	14.2	15.8	9.2	10.0	2.4	9.6
Rev LTM	739	1,585	2,162	1,389	1,311	308	1,350
Op Inc LTM	206	592	730	518	469	52	493
FCF LTM	207	819	1,139	663	331	112	497
FCF 3Y Avg	213	776	1,032	624	319	103	471
CFO LTM	343	819	1,139	663	628	155	646
CFO 3Y Avg	322	776	1,032	624	598	142	611

Growth & Margins

	PECO	REG	KIM	BRX	FRT	IVT	Median
Name	Phillips.	Regency .	Kimco Re.	Brixmor .	Federal .	InvenTru.
Rev Chg LTM	8.9%	7.8%	4.4%	6.6%	7.4%	9.6%	7.6%
Rev Chg 3Y Avg	8.2%	8.6%	7.5%	4.1%	6.3%	8.2%	7.8%
Rev Chg Q	7.0%	8.3%	4.0%	5.1%	10.3%	11.9%	7.6%
QoQ Delta Rev Chg LTM	1.7%	2.0%	1.0%	1.3%	2.5%	2.9%	1.9%
Op Inc Chg LTM	16.4%	11.7%	7.6%	10.7%	10.3%	4.1%	10.5%
Op Inc Chg 3Y Avg	14.8%	7.9%	8.2%	5.0%	8.2%	15.6%	8.2%
Op Mgn LTM	27.8%	37.3%	33.8%	37.3%	35.8%	16.8%	34.8%
Op Mgn 3Y Avg	26.6%	36.1%	33.0%	36.5%	35.2%	16.2%	34.1%
QoQ Delta Op Mgn LTM	0.6%	-0.2%	0.2%	0.6%	-0.2%	-0.3%	0.0%
CFO/Rev LTM	46.4%	51.7%	52.7%	47.7%	47.9%	50.5%	49.2%
CFO/Rev 3Y Avg	47.5%	52.7%	50.8%	47.4%	48.7%	50.1%	49.4%
FCF/Rev LTM	28.0%	51.7%	52.7%	47.7%	25.2%	36.4%	42.1%
FCF/Rev 3Y Avg	31.4%	52.7%	50.8%	47.4%	25.9%	36.3%	41.8%

Valuation

	PECO	REG	KIM	BRX	FRT	IVT	Median
Name	Phillips.	Regency .	Kimco Re.	Brixmor .	Federal .	InvenTru.
Mkt Cap	5.0	14.2	15.8	9.2	10.0	2.4	9.6
P/S	6.8	9.0	7.3	6.6	7.6	7.9	7.4
P/Op Inc	24.3	24.0	21.6	17.7	21.2	47.1	22.8
P/EBIT	20.8	18.4	18.5	13.6	14.1	16.7	17.5
P/E	43.3	26.0	25.6	20.6	19.7	22.2	23.9
P/CFO	14.6	17.3	13.8	13.8	15.9	15.7	15.1
Total Yield	5.5%	8.5%	3.9%	8.8%	5.1%	7.5%	6.5%
Dividend Yield	3.2%	4.6%	0.0%	3.9%	0.0%	3.0%	3.1%
FCF Yield 3Y Avg	4.7%	6.1%	7.2%	7.8%	3.7%	4.8%	5.5%
D/E	0.5	0.4	0.5	0.6	0.5	0.4	0.5
Net D/E	0.5	0.4	0.5	0.6	0.5	0.4	0.5

Returns

	PECO	REG	KIM	BRX	FRT	IVT	Median
Name	Phillips.	Regency .	Kimco Re.	Brixmor .	Federal .	InvenTru.
1M Rtn	3.4%	-1.0%	1.3%	0.4%	6.1%	-2.5%	0.9%
3M Rtn	6.7%	4.2%	8.8%	6.5%	10.6%	3.9%	6.6%
6M Rtn	15.9%	13.6%	17.1%	14.2%	21.5%	15.9%	15.9%
12M Rtn	15.6%	11.6%	18.2%	23.9%	29.4%	15.3%	16.9%
3Y Rtn	49.5%	49.9%	50.8%	66.5%	45.1%	58.6%	50.3%
1M Excs Rtn	-5.2%	-9.4%	-6.6%	-7.5%	-0.7%	-10.3%	-7.1%
3M Excs Rtn	0.0%	-2.6%	2.0%	-0.2%	3.8%	-2.9%	-0.1%
6M Excs Rtn	9.6%	5.3%	8.9%	7.6%	14.1%	7.5%	8.2%
12M Excs Rtn	-15.5%	-19.2%	-12.2%	-8.0%	-4.3%	-16.2%	-13.8%
3Y Excs Rtn	-36.1%	-34.0%	-33.8%	-17.4%	-43.8%	-25.9%	-33.9%

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	3/31/2026	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	4/24/2026	2/10/2026	2/11/2025	2/12/2024	2/21/2023	2/16/2022	3/12/2021
Key Financials
Total Revenue	739	727	661	610	575	533	498
Net Income	115	111	63	57	48	15	5
EPS	0.92	0.89	0.51	0.48	0.42	0.15	0.05
Growth Rates
Total Revenue Growth	8.9%	9.9%	8.4%	6.0%	8.0%	7.0%	-7.2%
Net Income Growth	61.8%	77.6%	10.3%	17.6%	219.6%	216.9%	107.5%
Margins
Net Income Margin	15.6%	15.3%	9.5%	9.3%	8.4%	2.8%	1.0%
Cash & Debt
Total Cash	18	20	12	13	13	98	104
Total Debt	2,612	2,494	2,226	2,077	2,006	1,999	2,394
Net Debt / (Cash)	2,594	2,474	2,213	2,064	1,993	1,901	2,290
Cash Flows
Net Cash from Operations	343	348	335	291	291	263	211
Free Cash from Operations	207	212	240	196	186	188	147
Returns to Shareholders
Dividends	160	157	134	136	127	107	49
Share Repurchases	-0	-0	-0	-0	-0	78	5

$ Mil \| FY: 12/31	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2
Period End	3/31/2026	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023
Filing Date	4/24/2026	2/10/2026	10/24/2025	7/25/2025	4/25/2025	2/11/2025	10/25/2024	7/26/2024	4/26/2024	2/12/2024	11/1/2023	8/2/2023
Key Financials Quarterly
Total Revenue	191	188	183	178	178	173	166	162	161	154	152	152
Net Income	30	48	25	13	26	18	12	15	18	14	12	14
EPS	0.24	0.38	0.20	0.10	0.21	0.15	0.09	0.12	0.14	0.11	0.10	0.12
Key Financials TTM
Total Revenue TTM	739	727	712	695	678	661	643	630	620	610	601	594
Net Income TTM	115	111	82	69	71	63	58	59	58	57	57	56
Growth Rates Quarterly
Total Revenue Growth	7.0%	8.6%	10.4%	10.1%	10.5%	12.0%	8.6%	6.2%	6.8%	6.5%	4.7%	6.8%
Net Income Growth	15.5%	162.0%	112.8%	-16.3%	48.9%	34.1%	-5.3%	5.7%	6.3%	-1.1%	10.9%	6.8%
Margins Quarterly
Net Income Margin	15.9%	25.3%	13.5%	7.2%	14.8%	10.5%	7.0%	9.5%	11.0%	8.8%	8.0%	9.5%
Cash & Debt
Total Cash	18	20	20	19	14	12	16	16	15	13	12	14
Total Debt	2,612	2,494	2,503	2,514	2,396	2,226	2,220	2,155	2,126	2,077	1,975	2,059
Net Debt / (Cash)	2,594	2,474	2,482	2,495	2,382	2,213	2,204	2,139	2,112	2,064	1,963	2,045
Cash Flows Quarterly
FCF from Operations	56	96	95	96	61	84	109	78	63	72	89	68
Cash Flows TTM
FCF from Operations TTM	343	348	336	350	332	335	323	302	291	291	281	279
Returns to Shareholders Quarterly
Dividends	55	27	40	39	52	25	49	24	36	35	34	33
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	3.7%	3.5%	3.4%	2.8%	3.3%	3.2%	2.7%	2.9%	3.1%	2.8%	2.9%	2.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	3.3%	3.2%	3.1%	2.9%	2.9%	2.9%	2.8%	2.9%	2.8%	2.7%	2.7%	2.6%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Real Estate Properties	661
Fees and management income		10	12	10	10
Other property income		3	3	3	3
Rental income		598	561	519	485
Total	661	610	575	533	498

Net Income by Segment

$ Mil	2025	2024	2023	2022	2021
Real Estate Properties	63
Total	63

Price Behavior

Price Behavior

Market Price	$39.72
Market Cap ($ Bil)	5.0
First Trading Date	07/15/2021
Distance from 52W High	-1.6%
	50 Days	200 Days
DMA Price	$38.49	$35.56
DMA Trend	up	up
Distance from DMA	3.2%	11.7%
	3M	1YR
Volatility	14.9%	16.0%
Downside Capture	0.12	0.06
Upside Capture	49.56	26.22
Correlation (SPY)	17.3%	20.2%

PECO Betas & Captures as of 4/30/2026

	1M	2M	3M	6M	1Y	3Y
Beta	0.01	0.24	0.08	-0.03	0.27	0.46
Up Beta	-0.27	-0.21	-0.28	-0.09	0.47	0.46
Down Beta	0.56	0.47	0.48	0.19	0.25	0.47
Up Capture	53%	40%	39%	14%	19%	18%
Bmk +ve Days	15	22	31	66	141	428
Stock +ve Days	14	19	33	61	122	377
Down Capture	-4%	37%	-22%	-38%	12%	68%
Bmk -ve Days	4	18	30	56	108	321
Stock -ve Days	8	24	31	64	128	369

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with PECO
PECO	16.0%	16.1%	0.74	-
Sector ETF (XLRE)	10.6%	13.7%	0.49	60.1%
Equity (SPY)	29.0%	12.5%	1.83	19.8%
Gold (GLD)	39.8%	27.0%	1.22	-1.9%
Commodities (DBC)	50.6%	18.0%	2.21	-12.7%
Real Estate (VNQ)	13.0%	13.5%	0.66	64.9%
Bitcoin (BTCUSD)	-17.4%	42.1%	-0.34	-3.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with PECO
PECO	10.9%	22.6%	0.43	-
Sector ETF (XLRE)	4.3%	19.1%	0.13	67.3%
Equity (SPY)	12.8%	17.1%	0.59	45.3%
Gold (GLD)	20.9%	17.9%	0.95	9.2%
Commodities (DBC)	13.8%	19.1%	0.59	11.4%
Real Estate (VNQ)	3.4%	18.8%	0.08	70.1%
Bitcoin (BTCUSD)	7.0%	56.0%	0.34	16.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with PECO
PECO	5.3%	22.6%	0.43	-
Sector ETF (XLRE)	7.1%	20.4%	0.31	67.3%
Equity (SPY)	15.1%	17.9%	0.72	45.3%
Gold (GLD)	13.4%	15.9%	0.69	9.2%
Commodities (DBC)	9.3%	17.8%	0.44	11.4%
Real Estate (VNQ)	5.8%	20.7%	0.24	70.1%
Bitcoin (BTCUSD)	67.8%	66.9%	1.07	16.7%

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Short Interest

Short Interest: As Of Date	4152026
Short Interest: Shares Quantity	4.0 Mil
Short Interest: % Change Since 3312026	18.3%
Average Daily Volume	0.8 Mil
Days-to-Cover Short Interest	4.9 days
Basic Shares Quantity	125.9 Mil
Short % of Basic Shares	3.2%

Returns Analyses

	Title
0	How Low Can Phillips Edison Stock Really Go?

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
4/23/2026	1.1%	2.9%
2/5/2026	-0.8%	0.1%	2.4%
10/23/2025	0.7%	-1.3%	2.8%
7/24/2025	-0.6%	-2.8%	0.5%
4/24/2025	-0.4%	-0.7%	-3.4%
2/6/2025	1.9%	1.7%	-2.7%
10/24/2024	-1.9%	2.2%	6.6%
7/25/2024	0.5%	4.2%	8.0%
...
SUMMARY STATS
# Positive	12	14	11
# Negative	8	6	8
Median Positive	1.4%	3.3%	3.9%
Median Negative	-1.2%	-3.4%	-2.9%
Max Positive	4.6%	7.4%	9.0%
Max Negative	-2.3%	-5.6%	-6.2%

	Forward Returns
4/23/2026	1.1%	2.9%
2/5/2026	-0.8%	0.1%	2.4%
10/23/2025	0.7%	-1.3%	2.8%
7/24/2025	-0.6%	-2.8%	0.5%
4/24/2025	-0.4%	-0.7%	-3.4%
2/6/2025	1.9%	1.7%	-2.7%
10/24/2024	-1.9%	2.2%	6.6%
7/25/2024	0.5%	4.2%	8.0%
4/25/2024	-1.0%	0.4%	-4.3%
2/8/2024	0.5%	1.1%	3.9%
10/31/2023	-2.3%	-4.6%	0.1%
8/1/2023	1.0%	1.4%	-2.8%
5/2/2023	-2.0%	-4.1%	-6.2%
2/9/2023	3.9%	6.0%	-2.6%
11/3/2022	4.5%	7.4%	9.0%
8/5/2022	1.6%	4.4%	-0.6%
5/5/2022	-1.4%	-5.6%	-2.9%
2/10/2022	1.1%	3.7%	5.2%
11/4/2021	4.3%	6.0%	0.9%
8/5/2021	4.6%	7.1%	6.8%
SUMMARY STATS
# Positive	12	14	11
# Negative	8	6	8
Median Positive	1.4%	3.3%	3.9%
Median Negative	-1.2%	-3.4%	-2.9%
Max Positive	4.6%	7.4%	9.0%
Max Negative	-2.3%	-5.6%	-6.2%

SEC Filings

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Report Date	Filing Date	Filing
03/31/2026	04/24/2026	10-Q
12/31/2025	02/10/2026	10-K
09/30/2025	10/24/2025	10-Q
06/30/2025	07/25/2025	10-Q
03/31/2025	04/25/2025	10-Q
12/31/2024	02/11/2025	10-K
09/30/2024	10/25/2024	10-Q
06/30/2024	07/26/2024	10-Q
03/31/2024	04/26/2024	10-Q
12/31/2023	02/12/2024	10-K
09/30/2023	11/01/2023	10-Q
06/30/2023	08/02/2023	10-Q
03/31/2023	05/03/2023	10-Q
12/31/2022	02/21/2023	10-K
09/30/2022	11/03/2022	10-Q
06/30/2022	08/05/2022	10-Q

Recent Forward Guidance [BETA]

Latest: Q1 2026 Earnings Reported 4/23/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Net income per share	0.79	0.8	0.81	6.0%		Raised	Guidance: 0.76 for 2026
2026 Nareit FFO per share	2.66	2.69	2.71	0.2%		Raised	Guidance: 2.68 for 2026
2026 Core FFO per share	2.72	2.75	2.78	0.4%		Raised	Guidance: 2.74 for 2026
2026 Same-Center NOI growth	3.0%	3.5%	4.0%	0.0%	0.0%	Affirmed	Guidance: 3.5% for 2026
2026 Acquisitions, gross	400.00 Mil	450.00 Mil	500.00 Mil	0.0%		Affirmed	Guidance: 450.00 Mil for 2026
2026 Interest expense, net	117.00 Mil	122.00 Mil	127.00 Mil
2026 G&A expense	49.00 Mil	51.00 Mil	53.00 Mil

Prior: Q4 2025 Earnings Reported 2/5/2026

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
2026 Net income per share	0.74	0.76	0.77	18.9%		Higher New	Actual: 0.64 for 2025
2026 Nareit FFO per share	2.65	2.68	2.71	5.9%		Higher New	Actual: 2.53 for 2025
2026 Core FFO per share	2.71	2.74	2.77	5.8%		Higher New	Actual: 2.59 for 2025
2026 Same-Center NOI growth	3.0%	3.5%	4.0%	4.5%	0.2%	Higher New	Actual: 3.35% for 2025
2026 Acquisitions, gross	400.00 Mil	450.00 Mil	500.00 Mil	12.5%		Higher New	Actual: 400.00 Mil for 2025

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing PECO?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What PECO Makes & Who Pays

TTM figures based on

PECO Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Phillips Edison (PECO)

Market Price (5/11/2026): $39.4 | Market Cap: $5.0 BilSector: Real Estate | Industry: Retail REITs

Phillips Edison (PECO)

Market Price (5/11/2026): $39.4Market Cap: $5.0 BilSector: Real EstateIndustry: Retail REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Phillips Edison (PECO)

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Phillips Edison (PECO)

INDUSTRY: Retail REITs

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PECO: 8.2% | 24.3x)

Higher Rev Chg LTM (Value for PECO: 8.9%)

Higher Rev Chg 3Y Avg (Value for PECO: 8.2%)

Higher Op Mgn LTM (Value for PECO: 27.8%)

Higher CFO/Rev LTM (Value for PECO: 46.4%)

Higher FCF/Rev LTM (Value for PECO: 28.0%)

Higher Total Yield (Value for PECO: 5.5%)

SECTOR: Real Estate

Higher Rev Chg 3Y Avg | Lower P/S (Values for PECO: 8.2% | 6.8x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PECO: 8.2% | 24.3x)

Higher Rev Chg LTM (Value for PECO: 8.9%)

Higher Rev Chg 3Y Avg (Value for PECO: 8.2%)

Higher Op Mgn LTM (Value for PECO: 27.8%)

Higher CFO/Rev LTM (Value for PECO: 46.4%)

Higher FCF/Rev LTM (Value for PECO: 28.0%)

Higher Total Yield (Value for PECO: 5.5%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for PECO: 8.2% | 6.8x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PECO: 8.2% | 24.3x)

Higher Rev Chg LTM (Value for PECO: 8.9%)

Higher Rev Chg 3Y Avg (Value for PECO: 8.2%)

Higher Op Mgn LTM (Value for PECO: 27.8%)

Higher CFO/Rev LTM (Value for PECO: 46.4%)

Higher FCF/Rev LTM (Value for PECO: 28.0%)

Higher Total Yield (Value for PECO: 5.5%)

Best Bets in Real Estate

P/EBIT (Value for PECO: 20.8x)

P/E (Value for PECO: 43.3x)

Rev Chg 3Y Avg (Value for PECO: 8.2%)

Rev Chg LTM (Value for PECO: 8.9%)

Rev Chg Q (Value for PECO: 7.0%)

FCF/Rev 3Y Avg (Value for PECO: 31.4%)

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Market Price (5/11/2026): $39.4 | Market Cap: $5.0 Bil
Sector: Real Estate | Industry: Retail REITs

Market Price (5/11/2026): $39.4
Market Cap: $5.0 Bil
Sector: Real Estate
Industry: Retail REITs