Grocery anchored retail has emerged as a top-performing asset class over the past three years, benefiting from increased traffic through a return to the grocery store. Phillips Edison & Company is an owner/developer in the grocery anchored shopping center segment, boasting high performing assets and a strong tenant mix. PECO reported strong Q2 earnings, reaffirming full-year guidance, with solid growth in core funds from operations and same center NOI.
Phillips Edison & Company, Inc. (NASDAQ:PECO ) Q2 2024 Earnings Conference Call July 26, 2024 12:00 PM ET Company Participants Kimberly Green - Head of IR Jeff Edison - CEO Bob Myers - President John Caulfield - CFO Conference Call Participants Haendel St. Juste - Mizuho Caitlin Burrows - Goldman Sachs Jeffrey Spector - Bank of America Merrill Lynch Michael Mueller - JPMorgan Ronald Kamden - Morgan Stanley Todd Thomas - KeyBanc Capital Floris Gerbrand Van Dijkum - Compass Point Omotayo Okusanya - Deutsche Bank Juan Sanabria - BMO Capital Markets Dori Kesten - Wells Fargo Operator Good day, and welcome to Phillips Edison & Company's Second Quarter 2024 Earnings Call. Please note that this call is being recorded.
Phillips Edison & Company, Inc. (PECO) came out with quarterly funds from operations (FFO) of $0.59 per share, missing the Zacks Consensus Estimate of $0.60 per share. This compares to FFO of $0.59 per share a year ago.