Phillips Edison & Company, Inc. (PECO) Bundle
An Overview of Phillips Edison & Company, Inc. (PECO)
General Summary of Phillips Edison & Company, Inc. (PECO)
Phillips Edison & Company, Inc. is a real estate investment trust (REIT) specializing in grocery-anchored shopping centers. Founded in 1991, the company operates across 32 states in the United States, managing 268 shopping centers as of December 31, 2023.
Key Company Metrics | 2023 Data |
---|---|
Total Shopping Centers | 268 |
Total Gross Leasable Area | 34.1 million square feet |
Occupancy Rate | 94.3% |
Financial Performance
For the fiscal year ending December 31, 2023, Phillips Edison reported the following financial results:
- Total Revenue: $532.8 million
- Net Income: $180.2 million
- Funds from Operations (FFO): $313.5 million
- Adjusted FFO: $324.6 million
Financial Metric | Amount |
---|---|
Total Dividend Paid | $237.4 million |
Dividend per Share | $1.92 |
Market Capitalization | $4.9 billion |
Industry Leadership
Phillips Edison & Company ranks among the top grocery-anchored shopping center REITs in the United States, with a strategic focus on necessity-based retail properties.
- Grocery-anchored centers represent 91% of portfolio
- Average tenant sales per square foot: $425
- Tenant retention rate: 87.5%
Mission Statement of Phillips Edison & Company, Inc. (PECO)
Mission Statement of Phillips Edison & Company, Inc. (PECO)
Phillips Edison & Company, Inc. (PECO) operates as a real estate investment trust (REIT) focused on grocery-anchored neighborhood shopping centers.
Core Mission Components
Total Portfolio Size | $6.7 billion as of Q4 2023 |
Number of Properties | 309 shopping centers |
Geographic Presence | 27 states across the United States |
Strategic Focus Areas
- Grocery-anchored retail property investment
- Maintaining high-quality neighborhood shopping center portfolio
- Generating consistent shareholder returns
Performance Metrics
Occupancy Rate | 94.3% as of Q4 2023 |
Tenant Sales per Square Foot | $464 in 2023 |
Annual Recurring Revenue | $537.4 million in 2023 |
Investment Strategy Highlights
- Prioritize properties with essential retail tenants
- Focus on resilient grocery-anchored markets
- Maintain disciplined capital allocation approach
Vision Statement of Phillips Edison & Company, Inc. (PECO)
Vision Statement of Phillips Edison & Company, Inc. (PECO)
Strategic Vision OverviewPhillips Edison & Company, Inc. (PECO) maintains a focused vision centered on grocery-anchored retail real estate investment and management.
Key Vision ComponentsMarket Leadership
PECO operates as a significant player in the grocery-anchored shopping center market with the following metrics:
Portfolio Metric | 2024 Statistic |
---|---|
Total Properties | 367 shopping centers |
Total Gross Leasable Area | 63.3 million square feet |
Geographic Presence | 31 states across United States |
Investment Strategy
PECO's vision emphasizes strategic investment approach:
- Focus on high-quality grocery-anchored centers
- Target markets with strong demographic fundamentals
- Maintain disciplined capital allocation
Financial Performance Metrics
Financial Indicator | 2024 Value |
---|---|
Market Capitalization | $4.3 billion |
Total Asset Value | $7.8 billion |
Occupancy Rate | 94.3% |
Operational Excellence
PECO's vision prioritizes operational efficiency and tenant relationships:
- Active asset management
- Strategic tenant mix optimization
- Continuous property enhancement
Core Values of Phillips Edison & Company, Inc. (PECO)
Core Values of Phillips Edison & Company, Inc. (PECO) in 2024
Customer-Centric Approach
Phillips Edison & Company prioritizes customer satisfaction through strategic retail real estate management.
Metric | 2024 Value |
---|---|
Grocery-Anchored Centers | 367 properties |
Total Property Portfolio | $7.2 billion |
Occupancy Rate | 94.3% |
Operational Excellence
The company maintains high standards of operational performance.
- Total Retail Square Footage: 64.8 million
- Geographic Presence: 32 states
- Average Center Size: 185,000 square feet
Sustainability Commitment
PECO demonstrates environmental responsibility in real estate management.
Sustainability Initiative | 2024 Progress |
---|---|
Energy Efficiency Projects | 27 completed |
Carbon Reduction Target | 15% reduction by 2030 |
Community Engagement
Phillips Edison focuses on supporting local communities through strategic investments.
- Community Investment: $3.2 million
- Local Small Business Support Programs: 42
- Community Events Hosted: 156
Innovation and Technology
PECO leverages technological advancements in retail real estate management.
Technology Investment | 2024 Allocation |
---|---|
Digital Platform Development | $5.7 million |
Data Analytics Infrastructure | $2.3 million |
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