Our differentiated and focused strategy of owning and operating small-format, neighborhood shopping centers anchored by the #1 or #2 grocer by sales in a market continues to result in strong financial and operating performance.
Portfolio Highlights
284
#1 or #2 Grocery Anchor by Sales (85% of ABR)
97% of ABR from Omni- Channel Grocery- Anchored Neighborhood Shopping Centers
Format Drives Results:
Right-Sized Strategic
Neighborhood Locations
70% of Rents from
Necessity-Based Goods and Services
Last Mile Solution for Necessity-Based and Essential Retailers
Targeted Trade Areas
Where Leading Grocers and
Small Shop Neighbors Are
Successful
NEIGHBORHOOD
CENTERS
32.4M
SQUARE FEET
31
STATES
Investment Grade Balance Sheet
with significant liquidity position and net debt to annualized adjusted EBITDAre at 5.1x
First Quarter
Dividend
Total
Portfolio
3.3%
$6.9B
88%
2024 Highlights:
Yield*
Enterprise
Retention
Value
Rate
Strength and Resiliency of Our Grocers
+6%
U.S. grocery sales growth in 2023
$705
Average annual grocer sales per square foot as of March 31, 2024
2.4%
Grocer health ratio (occupancy cost) as of March 31, 2024
16.9%
29.1%
94.8%
Kroger is
Publix is
Renewal
New Rent
Inline Leased
PECO's #1
PECO's #2
Spread
Spread
Occupancy
Neighbor
Neighbor
Retailers Growing with PECO
Learn more about PECO at https://investors.phillipsedison.com. Certain matters included in this presentation may be forward looking statements within the meaning of federal securities laws. Actual future performance and results may differ materially from those included in forward looking statements. Please refer to our most recent annual report on Form IO-K and quarterly report on Form IO-Q filed with the SEC which include risk factors and other information that could cause actual results to differ from what is included in forward looking statements. This presentation includes certain non-GAAP financial measures that the company considers meaningful measures of financial performance. Additional information regarding these non-GAAP measures, including reconciliations to GAAP, as well as definitions of terms in this presentation, are included in documents we have filed with the SEC.
Dividend yield as of March 28, 2024 and is based on an annualized rate of $1.17 per share
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Phillips Edison & Co. Inc. published this content on
25 April 2024 and is solely responsible for the information contained therein. Distributed by
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25 April 2024 21:11:10 UTC.
Phillips Edison & Company, Inc. is a real estate investment trust (REIT). The Company's business is conducted through Phillips Edison Grocery Center Operating Partnership I, L.P. (the Operating Partnership). The Company owns and operates omni-channel grocery-anchored shopping centers. Additionally, it operates a third-party investment management business providing property management and advisory services to two unconsolidated institutional joint ventures and one private fund. Its portfolio primarily consists of neighborhood centers anchored by the #1 or #2 grocer tenants by sales within their respective formats by trade area. Its centers feature a mix of national and regional retailers providing goods and services throughout the United States. The Company manages approximately 301 shopping centers, including 281 wholly owned centers comprising 32.2 million square feet across 31 states and 20 shopping centers owned in one institutional joint venture.
PHILLIPS EDISON & COMPANY, INC. 
