Phillips Edison & Company, Inc. ("PECO") has recently released its 10-Q report, detailing its performance for the period. PECO is a prominent owner and operator of grocery-anchored neighborhood shopping centers in the United States. The company, established in 1991, manages 321 shopping centers, including 298 wholly-owned centers comprising 33.5 million square feet across 31 states and 23 shopping centers owned in three institutional joint ventures. PECO's shopping centers feature a mix of national and regional retailers providing necessity-based goods and services in strong markets throughout the country.
In its ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, PECO provided insights into its financial performance. The company uses various key performance indicators (KPIs) to measure its operational and financial performance. These include metrics related to its portfolio, leasing, and financial performance. PECO also utilizes non-GAAP measures such as Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization for Real Estate (“Adjusted EBITDAre”) and Core Funds From Operations Attributable to Stockholders and OP Unit Holders (“Core FFO”) to assess its operating performance.
The company's financial report also includes detailed definitions of various terms and metrics used, such as Anchor Space, ABR Per Square Foot (“PSF”), Leased Occupancy, Comparable rent spread, and Net Debt to Adjusted EBITDAre, among others. These metrics provide insight into the health of PECO's shopping centers, leasing activities, and financial position.
Following these announcements, the company's shares moved -0.57%, and are now trading at a price of $34.56. Check out the company's full 10-Q submission here.
