PECO Q2 2026: Core FFO $0.69, Guidance Raised; ATM Issuance Adds Dilution

summarizeSummary

PECO reported Q2 2026 Core FFO of $0.69 per share, raised full-year guidance, and issued $85.3 million in equity via its ATM program. Same-Center NOI grew 3.8%.

check_boxKey Events · Earnings and Guidance · PECO

• Q2 2026 Core FFO Beats, Guidance Raised

  Core FFO of $0.69 per share, up 7.8% YoY. Full-year 2026 guidance raised, reflecting strong leasing and operating performance.

• Same-Center NOI Growth of 3.8%

  Same-Center NOI increased 3.8% to $120.6 million, driven by a $0.56 increase in average minimum rent per square foot and 0.3% occupancy improvement.

• ATM Equity Issuance: $85.3M Raised

  Issued 2.0 million shares at $42.06 per share for net proceeds of $85.3 million during Q2. An additional 0.2 million shares issued after quarter-end for $6.4 million. $91 million remains available under the $250 million ATM program.

• Active Portfolio Management

  Acquired 10 properties for $268.4 million and sold 4 properties for net proceeds of $83.4 million, generating a $26.2 million gain. Four properties held for sale at quarter-end.

auto_awesomeAnalysis · PECO · Real Estate & Construction

Phillips Edison delivered a strong Q2 with Core FFO of $0.69 per share, up 7.8% year-over-year, and raised full-year guidance. Same-Center NOI grew 3.8%, driven by higher rents and occupancy. The company also tapped its ATM program, issuing 2.0 million shares at $42.06 for net proceeds of $85.3 million, and an additional 0.2 million shares after quarter-end. While the ATM issuance is modestly dilutive, the capital supports the acquisition pipeline and balance sheet. The stock trades near its 52-week high, reflecting market confidence in the grocery-anchored retail strategy.