Quarterly ResultJul 24, 2026, 04:12 PM
Phillips Edison YTD Net Income Up 83% to $71.5M; EPS $0.57
AI Summary
Phillips Edison & Company reported a significant increase in net income attributable to stockholders for the six months ended June 30, 2026, rising 83% to $71.5 million, with basic EPS reaching $0.57. Total revenues grew by 6.8% to $380.4 million. The company was active in real estate transactions, acquiring 10 properties and one outparcel for $268.4 million, and divesting five properties/outparcels for $83.4 million in net proceeds, realizing a $26.2 million gain. Debt refinancing included issuing $350 million in senior notes to repay term loans, and the company utilized its At-the-Market program to issue 2.0 million shares for $85.3 million.
Key Highlights
- Net income attributable to stockholders increased 83% to $71.5 million for the six months ended June 30, 2026.
- Basic EPS rose to $0.57 for the six months ended June 30, 2026, up from $0.31 in the prior year.
- Total revenues increased 6.8% to $380.4 million for the six months ended June 30, 2026.
- Acquired 10 properties and one outparcel for $268.4 million during the six months ended June 30, 2026.
- Sold five properties/outparcels for $83.4 million net proceeds, realizing a $26.2 million gain.
- Issued $350 million of 4.750% senior notes due 2033 to repay term loans.
- Issued 2.0 million common shares for $85.3 million net proceeds via the ATM program.
- Declared common distributions of $0.6498 per share for the six months ended June 30, 2026.
Price Impact
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