PECO Q4 Nareit FFO $0.56 (+6% YoY); raises 2024 Core FFO guidance to $2.37-$2.45

Phillips Edison & Company, Inc.

2023-FY EPS reported $0.48 revenue$610,124,000

Q4 net income $13.5M ($0.11/diluted); Nareit FFO $74.8M ($0.56), +6.0% YoY; Core FFO $77.9M ($0.58), +4.9% YoY.
Full-year 2023 same-center NOI +4.2%; Q4 same-center NOI +3.6% to $99.3M.
Leased portfolio occupancy 97.4% (anchor 98.9%, inline 94.7%); comparable renewal rent spread +14.2% in Q4.
Acquired six shopping centers & two outparcels for $186.4M in Q4; net acquisitions $272.2M for FY2023.
Raised full-year 2024 Nareit FFO guidance to $2.34-$2.41 and Core FFO to $2.37-$2.45 per diluted share.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Phillips Edison & Company, Inc. reported the period ended December 31, 2023 results: net income $13.5 million, EPS $0.11 per diluted share. Guidance raised.

Period: the period ended December 31, 2023
Net income: $13.5 million
EPS: $0.11 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

reported financial and operating results for the period ended December 31, 2023 and increased full year 2024 earnings guidance. For the fourth quarter and year ended December 31, 2023, net income attributable to stockholders was $13.5 million, or $0.11 per diluted share, and $56.8 million, or $0.48 per diluted share, respectively.

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Source: SEC EDGAR

accession 0001476204-24-000018

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