(PECO) Phillips Edison - NASDAQ
Sector: Real Estate | Industry: REIT - Retail | Exchange: NASDAQ (USA) | Market Cap: 5.826m USD | Total Return: 25.3% in 12m
Avg Turnover: 42.9M
EPS Trend: 97.8%
Qual. Beats: 0
Rev. Trend: 99.5%
Qual. Beats: 3
Warnings
Tailwinds
No distinct edge detected
Seasonality
Phillips Edison & Company, Inc. (NASDAQ: PECO) is a retail REIT focused on owning and operating grocery-anchored neighborhood shopping centers across the United States. As a REIT in the Real Estate sector, the company primarily generates revenue through rental income from its properties, and is structured to distribute the majority of its taxable income to shareholders. Grocery-anchored centers of this type are generally considered to offer more stable occupancy than non-anchored retail, since grocery stores provide necessity-based goods that draw consistent foot traffic.
As of March 31, 2026, PECO managed 326 shopping centers, including 299 wholly owned properties totaling 33.7 million square feet across 31 states, plus 27 centers held through three institutional joint ventures. The portfolio features a mix of national and regional retailers, with major grocery anchors that include Kroger, Publix, Albertsons, and Ahold Delhaize. The company emphasizes a vertically integrated operating platform to support leasing, management, and tenant relationships across its national footprint.
Founded in 1991 and headquartered in Cincinnati, Ohio, PECO went public in July 2021 and operates with a focus on necessity-based retail in fundamentally strong markets. The company uses its investor relations website to disclose material information and comply with Regulation FD obligations.
- Grocery-anchored portfolio occupancy drives same-center NOI growth
- Acquisition pace of grocery-anchored centers expands national footprint
- Rising interest rates pressure cap rates and REIT valuations
| Net Income: 115.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -0.46 > 1.0 |
| NWC/Revenue: -18.40% < 20% (prev -32.93%; Δ 14.53% < -1%) |
| CFO/TA 0.06 > 3% & CFO 343.2m > Net Income 115.3m |
| Net Debt (2.73b) to EBITDA (508.5m): 5.37 < 3 |
| Current Ratio: 0.14 > 1.5 & < 3 |
| Outstanding Shares: last quarter (125.0m) vs 12m ago -9.84% < -2% |
| Gross Margin: 53.41% > 18% (prev 71.12%; Δ -17.71% > 0.5%) |
| Asset Turnover: 14.08% > 50% (prev 13.14%; Δ 0.94% > 0%) |
| Interest Coverage Ratio: 2.11 > 6 (EBIT TTM 244.0m / Interest Expense TTM 115.4m) |
| A: -0.03 (Total Current Assets 22.4m - Total Current Liabilities 158.5m) / Total Assets 5.35b |
| B: -0.26 (Retained Earnings -1.39b / Total Assets 5.35b) |
| C: 0.05 (EBIT TTM 244.0m / Avg Total Assets 5.26b) |
| D: 0.82 (Book Value of Equity 2.28b / Total Liabilities 2.77b) |
| Altman-Z'' = 0.16 = B |
| DSRI: 0.98 (Receivables 135.3m/127.0m, Revenue 740.2m/678.4m) |
| GMI: 1.33 (GM 71.12% / 53.41%) |
| AQI: 0.06 (AQ_t 0.06 / AQ_t-1 0.97) |
| SGI: 1.09 (Revenue 740.2m / 678.4m) |
| TATA: -0.04 (NI 115.3m - CFO 343.2m) / TA 5.35b) |
| Beneish M = -3.24 (Cap -4..+1) = AA |
As of June 28, 2026, the stock is trading at USD 42.34 with a total of 3,330,430 shares traded. Over the past week, the price has changed by +4.06%, over one month by +4.07%, over three months by +15.74% and over the past year by +25.29%.
Current recommended Stop Loss: 41.30 (which is 2.5% or 1.4 ATR below the current price).
Phillips Edison has received a consensus analysts rating of 3.82. Therefore, it is recommended to buy PECO.
- StrongBuy: 4
- Buy: 1
- Hold: 6
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 43.2 | 2.1% |
P/E Trailing = 45.6522
P/E Forward = 72.4638
P/S = 7.8833
P/B = 2.33
Revenue TTM = 740.2m USD
EBIT TTM = 244.0m USD
EBITDA TTM = 508.5m USD
Long Term Debt = 2.31b USD (from longTermDebt, last quarter)
Short Term Debt = 181.0m USD (from shortLongTermDebt, last quarter)
Debt = 2.74b USD (from shortLongTermDebtTotal, last quarter) + Leases 123.5m
Net Debt = 2.73b USD (calculated: Debt 2.74b - CCE 3.14m)
Enterprise Value = 8.56b USD (5.83b + Debt 2.74b - CCE 3.14m)
Interest Coverage Ratio = 2.11 (Ebit TTM 244.0m / Interest Expense TTM 115.4m)
EV/FCF = 41.36x (Enterprise Value 8.56b / FCF TTM 206.9m)
FCF Yield = 2.42% (FCF TTM 206.9m / Enterprise Value 8.56b)
FCF Margin = 27.96% (FCF TTM 206.9m / Revenue TTM 740.2m)
Net Margin = 15.58% (Net Income TTM 115.3m / Revenue TTM 740.2m)
Gross Margin = 53.41% ((Revenue TTM 740.2m - Cost of Revenue TTM 344.8m) / Revenue TTM)
Gross Margin QoQ = 3.01% (prev 70.35%)
Tobins Q-Ratio = 1.60 (Enterprise Value 8.56b / Total Assets 5.35b)
Interest Expense / Debt = 4.22% (Interest Expense 115.4m / Debt 2.74b)
Taxrate = 1.05% (1.31m / 124.3m)
NOPAT = 241.5m (EBIT 244.0m * (1 - 1.05%))
Current Ratio = 0.14 (Total Current Assets 22.4m / Total Current Liabilities 158.5m)
Debt / Equity = 1.20 (Debt 2.74b / totalStockholderEquity, last quarter 2.28b)
Debt / EBITDA = 5.37 (Net Debt 2.73b / EBITDA 508.5m)
Debt / FCF = 13.21 (Net Debt 2.73b / FCF TTM 206.9m)
Total Stockholder Equity = 2.28b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.19% (Net Income 115.3m / Total Assets 5.35b)
RoE = 5.05% (Net Income TTM 115.3m / Total Stockholder Equity 2.28b)
RoCE = 5.31% (EBIT 244.0m / Capital Employed (Equity 2.28b + L.T.Debt 2.31b))
RoIC = 4.57% (NOPAT 241.5m / Invested Capital 5.28b)
WACC = 5.49% (E(5.83b)/V(8.56b) * Re(6.11%) + D(2.74b)/V(8.56b) * Rd(4.22%) * (1-Tc(0.01)))
Discount Rate = 6.11% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 22.47 | Cagr: 0.71%
[DCF] Terminal Value 74.37% ; FCFF base≈213.6m ; Y1≈201.1m ; Y5≈187.2m
[DCF] Fair Price = 1.75 (EV 2.95b - Net Debt 2.73b = Equity 220.5m / Shares 126.0m; r=8.35% [WACC [floored]]; 5y FCF grow -7.46% → 2.50% )
EPS Correlation: 97.83 | EPS CAGR: 14.25% | SUE: 0.24 | # QB: 0
Revenue Correlation: 99.52 | Revenue CAGR: 8.80% | SUE: 0.96 | # QB: 3
EPS current Quarter (2026-06-30): EPS=0.17 | Chg30d=-0.82% | Revisions=+0% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.18 | Chg30d=-5.21% | Revisions=+33% | Analysts=2
EPS current Year (2026-12-31): EPS=0.71 | Chg30d=N/A | Revisions=+20% | GrowthEPS=+35.8% | GrowthRev=+4.7%
EPS next Year (2027-12-31): EPS=0.77 | Chg30d=+1.51% | Revisions=+33% | GrowthEPS=+8.0% | GrowthRev=+5.9%
[Analyst] Revisions Ratio: +33%