Phillips Edison
Owns and operates U.S. grocery-anchored neighborhood shopping centers.
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Profile
Owns and operates U.S. grocery-anchored neighborhood shopping centers, collecting base rent and tenant expense reimbursements. An integrated platform also develops and redevelops properties, manages joint ventures and a private fund, and is expanding selectively into unanchored Everyday Retail centers.
Owns and operates grocery-anchored neighborhood shopping centers in suburban markets across the United States, with a smaller Everyday Retail strategy targeting unanchored centers in similar trade areas. Lease revenue is the main income stream, supplemented by tenant expense recoveries and fees from managing joint ventures and a private fund.
Uses an internally staffed platform for leasing, property management, acquisitions, redevelopment, outparcel development, financing, and accounting. The portfolio emphasizes right-sized centers anchored by locally strong grocers and smaller tenant spaces, supporting consistently high occupancy and rent growth when leases renew. Results depend on retailer demand, tenant credit, grocery-anchor traffic, property operating costs, and access to debt and equity capital. REIT status requires annual distributions tied to taxable income.
Company facts
Key statistics
Year to date +10.7% · Average volume (30d) 817.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 17, 2026 | Barclays | Reiterate | Equal Weight | $45 | $46 |
| Jul 27, 2026 | Griffin | Target | $47 | ||
| Jul 23, 2026 | Wells Fargo | Reiterate | Equal Weight | $42 | $47 |
| Jul 10, 2026 | Morgan Stanley | Reiterate | Equal Weight | $37 | $42 |
| Jul 9, 2026 | UBS | Reiterate | Neutral | $43 | $46 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $0.18 | $0.33 | +80.5% | $187.5M | $184.5M | −1.6% | +1.99% |
| Apr 23, 2026Q1 FY26 | $0.17 | $0.24 | +39.1% | $183.7M | $186.3M | +1.4% | +1.08% |
| Feb 5, 2026Q4 FY25 | $0.16 | $0.38 | +135.3% | $167.6M | $183.2M | +9.3% | −0.77% |
| Oct 23, 2025Q3 FY25 | $0.64 | $0.20 | −68.8% | $183.2M | $294.5M | +60.8% | +0.70% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $178.3M | $177.8M | $182.7M | $187.9M | $191.9M | $188.5M | |
| Gross profit | $127.3M | $127.2M | $130.2M | $132.2M | $5.8M | $264.9M | |
| Operating income | $115.2M | $114.2M | $51.9M | $53.3M | $58.2M | $54.6M | |
| Net income | $26.3M | $12.8M | $24.7M | $47.5M | $30.4M | $41.1M | |
| Diluted EPS | $0.21 | $0.09 | $0.20 | $0.38 | $0.24 | $0.33 | |
| Gross margin | 71.4% | 71.5% | 71.3% | 70.4% | 3.0% | 140.6% | |
| Operating margin | 64.6% | 64.3% | 28.4% | 28.4% | 30.3% | 29.0% |
Fiscal years (4-quarter sums)FY21 $532.8M · FY22 $575.4M · FY23 $610.1M · FY24 $661.4M · FY25 $726.6M
Balance sheet, Jun 30, 2026Cash & short-term investments $7.1M · Total debt $2.58B · Total assets $5.44B · Shareholders' equity $2.37B
Dividends
Raised for 3 straight years — most recently to $0.1083 from $0.1025 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Sep 1 | $0.1083 | |
| Jul 15, 2026 | Jul 15 | Aug 4 | $0.1083 | |
| Jun 15, 2026 | Jun 15 | Jul 1 | $0.1083 | |
| May 15, 2026 | May 15 | Jun 2 | $0.1083 | |
| Apr 15, 2026 | Apr 15 | May 1 | $0.1083 | |
| Mar 16, 2026 | Mar 16 | Apr 1 | $0.1083 | |
| Feb 17, 2026 | Feb 17 | Mar 3 | $0.1083 | |
| Jan 15, 2026 | Jan 15 | Feb 3 | $0.1083 |
Ownership
Shares outstanding 128.43M · Float 127.87M · 99.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 23.31M | 18.15% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 14.40M | 11.21% | 13F | Aug 13, 2026 |
| State Street Corp | 7.29M | 5.68% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 5.73M | 4.46% | 13F | Aug 13, 2026 |
| FMR LLC | 4.22M | 3.29% | 13F | Aug 13, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- Kimco Realty
Large open-air grocery-anchored shopping-center peer
- Regency Centers
Grocery-anchored shopping-center specialist
- Brixmor Property Group
Open-air retail REIT with heavy grocery-anchor exposure
- Kite Realty Group
Sun Belt open-air grocery-anchored center peer
- Federal Realty
Premium retail and mixed-use center competitor
- InvenTrust Properties
Smaller Sun Belt grocery-anchored retail REIT
- Acadia Realty Trust
Street and open-air retail REIT with partial overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Phillips Edison | $40.00 | +2.43% | $5.02B | 34.0 | 49.5 | 6.7 | +3.8% |
| Kimco Realty | $23.78 | +0.02% | $16.03B | 26.7 | 27.8 | 7.3 | +4.1% |
| Regency Centers | $75.52 | +0.01% | $13.79B | 21.4 | 29.9 | 8.0 | +5.8% |
| Brixmor Property Group | $29.17 | −0.02% | $8.95B | 20.8 | 28.0 | 6.4 | +4.2% |
| Kite Realty Group | $26.00 | 0.00% | $5.21B | 16.1 | 65.4 | 6.4 | −9.4% |
| Federal Realty | $116.75 | −0.01% | $10.09B | 23.3 | 37.7 | 7.6 | +4.6% |
| InvenTrust Properties | $32.55 | +0.03% | $2.54B | 162.2 | — | 8.0 | +13.3% |
| Acadia Realty Trust | $20.72 | −0.05% | $2.85B | 60.1 | 66.4 | 7.0 | −9.4% |
| Median | 23.3 | 33.8 | 7.3 | +4.2% |