PECO 10-Q Details Q3 EPS of $0.49, $350M Term Loan, and GRP I JV Closing
PECO sits 15% above its 52-week low of $33.1.
Summary
PECO's Q3 10-Q backs up the prior day's earnings release with $0.49 diluted EPS and $0.71 Core FFO per share, and adds detail on a new $350 million term loan and the closing of the expanded Northwestern Mutual joint venture.
Key Events · Earnings and Guidance · PECO
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Q3 Earnings Confirmed in Full 10-Q
Q3 net income attributable to stockholders was $62.7 million, or $0.49 diluted EPS, versus $24.7 million and $0.20 a year earlier; nine-month diluted EPS was $1.05 versus $0.51.
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Gains Drive the Earnings Jump
Nine-month gain on disposal of property was $66.8 million versus $9.8 million in 2025, from nine properties and two land parcels sold; Core FFO of $0.71 per share in Q3 is the recurring measure.
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New $350M Term Loan Closed
On October 23, 2026 PECO closed a $350 million unsecured term loan at SOFR plus 0.80% maturing October 23, 2029, borrowing $175 million at closing with $175 million available to draw by April 21, 2027 and a $450 million accordion.
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GRP I Joint Venture Expanded
The Northwestern Mutual joint venture was extended to 2036; PECO contributed seven of 13 expected properties (~$377.5 million aggregate value) and received $138.6 million of cash from Northwestern Mutual.
Analysis · PECO · Real Estate & Construction
The headline numbers were already out on October 26, but the full 10-Q fills in what the 8-K did not. A new $350 million unsecured term loan closed October 23 at SOFR plus 0.80% maturing 2029, with $175 million drawn and $175 million still available to draw by April 21, 2027. The filing also confirms the GRP I joint venture expansion with Northwestern Mutual, where PECO contributed seven of 13 properties and received $138.6 million of cash, and shows ten properties ($152.1 million) now held for sale. Earnings quality is helped by $66.8 million of nine-month property-sale gains, so the $1.05 diluted EPS overstates recurring earnings; Core FFO of $0.71 per share is the cleaner read. Leverage is steady at 5.2x net debt to Adjusted EBITDA with covenants in compliance.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 29.9% of the 1374 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PECO was trading at $38.19 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $33.10 to $44.38. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.