Phillips Edison & Company, Inc. (PECO) has recently released its 10-Q report, detailing its financial performance for the quarter. PECO is a major player in the retail real estate industry, owning and operating 327 shopping centers across 31 states, with a focus on grocery-anchored neighborhood shopping centers. The company's portfolio includes well-occupied centers featuring a mix of national and regional retailers providing necessity-based goods and services in strong markets throughout the United States.
In its 10-Q report, PECO's management discusses the financial condition and results of operations, emphasizing its key performance indicators (KPIs) and defined terms used to measure the performance of its operations. These KPIs are grouped into three key areas: portfolio, leasing, and financial performance. PECO provides detailed metrics such as anchor space, average base rent (ABR) per square foot, leased occupancy, recovery rate, and net debt to Adjusted EBITDAre, among others, to provide insight into the health of its centers, leasing activity, and financial performance.
The report also includes non-GAAP measures such as Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization for Real Estate (Adjusted EIBTDAre) and Core Funds From Operations Attributable to Stockholders and OP Unit Holders (Core FFO), which are used to evaluate the company's operational and financial performance. Additionally, PECO provides insight into its equity market capitalization, net debt, net operating income (NOI), and total enterprise value, offering a comprehensive view of its financial standing.
PECO's 10-Q report provides investors and stakeholders with a detailed analysis of the company's performance, focusing on specific financial and operational metrics to provide a transparent view of its business. Following these announcements, the company's shares moved -0.92%, and are now trading at a price of $34.42. Check out the company's full 10-Q submission here.
