PECO reports Q3 Core FFO $0.62, raises FY 2024 guidance to $2.40–$2.44

Phillips Edison & Company, Inc.

2024-Q3 EPS reported $0.36 revenue$488,344,000

Q3 Nareit FFO $81.6M ($0.60/diluted), up 12.5% YoY; Core FFO $84.4M ($0.62/diluted), up 9.6% YoY.
Same-center NOI grew 3.2% YoY to $107.7M; portfolio leased occupancy 97.8%.
Acquired five shopping centers for $95.7M in Q3; YTD acquisitions $211.1M.
Raised FY 2024 Core FFO guidance to $2.40–$2.44 per share (midpoint $2.42 vs prior $2.40).
Completed $350M senior notes offering at 4.950% due 2035; 93.2% of debt fixed-rate.

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