Weekly Real Estate News
Phillips Edison & Company reported 5.3% third-quarter same-center net operating income growth as strong leasing at its grocery-anchored shopping centers supported higher earnings guidance.
The company released its results October 26 at 4:14 p.m. Eastern. Comparable portfolio renewal leases achieved record rent spreads of 25.2%, while comparable new and inline leases posted spreads of 26.3%. Rent spreads compare new contractual rents with the expiring rents on comparable space; they are not the same as total portfolio rental revenue growth.
Strong Leasing Supports Higher Guidance
Phillips Edison reported core funds from operations of $0.71 per diluted share, up 9.2% from a year earlier. Nareit FFO rose 7.8% to $0.69 per share. Net income attributable to stockholders was $62.7 million, or $0.49 per diluted share, compared with $24.7 million, or $0.20 per diluted share, a year earlier.
Leased portfolio occupancy stood at 97.5%, including 99.0% anchor occupancy. Same-center leased occupancy was 97.8%.
The company raised the midpoint of its 2026 core FFO guidance to $2.77 per share, from $2.76, and its Nareit FFO midpoint to $2.70. Its revised full-year same-center NOI growth guidance is 3.5%–4.0%, compared with the prior 3.4%–4.0% range.
Acquisitions Continue
Phillips Edison acquired two grocery-anchored shopping centers, one additional retail center and land parcels for a combined $181.8 million during the quarter. It sold $87.1 million in assets. The company’s full-year gross acquisition guidance remains $600 million–$700 million.
WRE News previously covered Phillips Edison’s expansion with Northwestern Mutual. The new operating results provide a separate look at rent growth and leasing performance across the company’s retail portfolio.
Source: Phillips Edison, third-quarter 2026 results.
