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Phillips Edison & Company Priced, Nasdaq: PECO

REIT focused on grocery-anchored neighborhood shopping centers.

Industry: Real Estate

First Day Return: -0.6%

Industry: Real Estate

Phillips Edison is one of the nation’s largest owners and operators of omni-channel grocery-anchored neighborhood shopping centers. Grocery-anchored neighborhood shopping centers have been our primary focus since we started our business in 1991, and we believe this focus has generated superior growth and attractive risk-adjusted returns over time. Our portfolio primarily consists of neighborhood centers anchored by the #1 or #2 grocer tenants by sales within their respective formats by trade area. As of March 31, 2021, our portfolio was 94.8% occupied. Our tenants, who we refer to as "Neighbors," are a mix of national, regional, and local retailers that primarily provide necessity-based goods and services. As of March 31, 2021, we owned equity interests in 300 shopping centers, including 278 wholly-owned properties which contributed more than 98% of our ABR, and 22 shopping center properties owned through two unconsolidated third-party institutional joint ventures. In total, our portfolio of wholly-owned shopping centers and our prorated portion of shopping centers owned through our unconsolidated institutional joint ventures comprises approximately 31.7 million square feet with a footprint in 31 states.
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Phillips Edison & Company (PECO) Performance