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CINCINNATI - Phillips Edison & Company, Inc. (NASDAQ:PECO), a major owner and operator of grocery-anchored shopping centers, reported first quarter earnings that beat analyst expectations and raised its full-year guidance.
The real estate investment trust posted adjusted earnings per share of $0.21 for Q1 2025, surpassing the analyst consensus of $0.14. Revenue came in at $178.31 million, also topping estimates of $165.14 million and representing a significant increase from the same quarter last year.
Phillips Edison reported strong leasing activity, with portfolio occupancy at 97.1% as of March 31. Same-center net operating income grew 3.9% year-over-year to $115.1 million.
"We are pleased to report another solid quarter of results, driven by strong retailer demand and significant value creation across our grocery-anchored shopping center portfolio," said Jeff Edison, Chairman and CEO of Phillips Edison.
The company raised its full-year 2025 earnings per share guidance to a range of $0.58 to $0.63, up from its previous outlook of $0.54 to $0.59. The new guidance midpoint is above the current analyst consensus of $0.58.
Phillips Edison acquired six shopping centers for $146.4 million during the quarter and one additional center for $27.8 million after quarter-end. The company maintained its full-year 2025 acquisition guidance of $350 million to $450 million.
Despite the strong results and improved outlook, Phillips Edison’s stock showed no significant movement in after-hours trading following the earnings release.
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