--- title: "Phillips Edison REIT | 8-K: FY2026 Q1 Revenue: USD 190.74 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/283887658.md" datetime: "2026-04-23T20:23:05.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283887658.md) - [en](https://longbridge.com/en/news/283887658.md) - [zh-HK](https://longbridge.com/zh-HK/news/283887658.md) --- # Phillips Edison REIT | 8-K: FY2026 Q1 Revenue: USD 190.74 M Revenue: As of FY2026 Q1, the actual value is USD 190.74 M. EPS: As of FY2026 Q1, the actual value is USD 0.24, beating the estimate of USD 0.1726. EBIT: As of FY2026 Q1, the actual value is USD 63.26 M. #### Financial Performance (Three Months Ended March 31, 2026 vs. 2025) - **Net Income Attributable to Stockholders**: $30,378 thousand, up from $26,309 thousand in the first quarter of 2025. - **Nareit FFO**: Increased 4.4% to $92,922 thousand, compared to $89,048 thousand in the first quarter of 2025. - **Core FFO**: Increased 6.2% to $96,403 thousand, compared to $90,773 thousand in the first quarter of 2025. - **Same-Center NOI**: Increased 3.5% to $122,250 thousand, compared to $118,102 thousand in the first quarter of 2025. - **Adjusted EBITDAre**: $126,074 thousand, up from $117,001 thousand in the first quarter of 2025. #### Revenues (Three Months Ended March 31, 2026 vs. 2025) - **Total Revenues**: $190,741 thousand, up from $178,311 thousand. - Rental income: $186,281 thousand, up from $174,183 thousand. - Fees and management income: $3,445 thousand, up from $2,783 thousand. - Other property income: $1,015 thousand, down from $1,345 thousand. #### Operating Expenses (Three Months Ended March 31, 2026 vs. 2025) - **Total Operating Expenses**: $132,531 thousand, up from $128,375 thousand. - Property operating: $32,990 thousand, up from $29,936 thousand. - Real estate taxes: $22,067 thousand, up from $21,079 thousand. - General and administrative: $11,943 thousand, down from $12,086 thousand. - Depreciation and amortization: $65,531 thousand, up from $65,274 thousand. #### Other Expenses (Three Months Ended March 31, 2026 vs. 2025) - **Interest expense, net**: -$29,772 thousand, compared to -$25,672 thousand. - **Gain on disposal of property, net**: $6,817 thousand, up from $5,609 thousand. - **Other expense, net**: -$2,013 thousand, compared to -$980 thousand. #### Cash Flows (Three Months Ended March 31, 2026 vs. 2025) - **Net cash provided by operating activities**: $55,556 thousand, down from $60,542 thousand. - **Real estate acquisitions, net**: -$126,427 thousand, compared to -$139,107 thousand. - **Capital expenditures**: -$26,462 thousand, compared to -$26,367 thousand. - **Proceeds from sale of real estate, net**: $20,947 thousand, up from $6,466 thousand. #### Balance Sheet Highlights (As of March 31, 2026 vs. December 31, 2025) - **Total assets**: $5,350,984 thousand, up from $5,286,438 thousand. - **Total liabilities**: $2,771,019 thousand, up from $2,697,060 thousand. - **Total equity**: $2,579,965 thousand, down from $2,589,378 thousand. - **Total liquidity**: Approximately $810.2 million. - Comprised of cash, cash equivalents and restricted cash: $22.4 million. - Borrowing capacity available on $1.0 billion revolving credit facility: $787.9 million. - **Trailing twelve month net debt to annualized adjusted EBITDAre**: 5.3x, up from 5.2x at December 31, 2025. - **Outstanding debt weighted-average interest rate**: 4.4%. - **Outstanding debt weighted-average maturity**: 5.8 years (including extension options). - **Fixed-rate debt**: 94.4% of total debt. - **Total net debt**: $2,567,095 thousand, up from $2,451,809 thousand. #### Operational Metrics (As of March 31, 2026) - **Wholly-owned properties**: 299 properties, totaling approximately 33.7 million square feet, located in 31 states. - **Leased portfolio occupancy**: 97.1%. - **Same-center leased portfolio occupancy**: 97.3%. - **Leased inline occupancy**: 95.0%. - **Same-center leased inline occupancy**: 95.0%. - **Leases executed in Q1 2026**: 246 leases totaling approximately 1.6 million square feet. - **Comparable rent spreads for renewal leases**: 21.2%. - **Comparable rent spreads for new leases**: 36.2%. - **Portfolio retention rate**: 87.8%. - **Average remaining lease term**: 4.6 years for total portfolio. - **ABR by Neighbor Category**: 74.4% from necessity-based goods and services, 25.6% from other retail stores. #### Transactional Summary (Q1 2026) - **Acquisitions**: $125.5 million in assets, including five shopping centers and land for future development. - **Dispositions**: $22.3 million in assets, including two shopping centers. #### Outlook / Guidance (Full Year 2026) Phillips Edison & Company, Inc. updated its full year 2026 earnings guidance, projecting Net income per share between $0.79 - $0.81, Nareit FFO per share between $2.66 - $2.71, and Core FFO per share between $2.72 - $2.78. The midpoint for Nareit FFO guidance was increased to represent 5.9% year-over-year growth, and Core FFO guidance to represent 5.8% year-over-year growth. Additionally, Same-Center NOI growth is expected to be 3.00% - 4.00%, with gross acquisitions targeted between $400,000 thousand - $500,000 thousand. ### Related Stocks - [PECO.US](https://longbridge.com/en/quote/PECO.US.md) ## Related News & Research - [Advance Auto Parts Reports First Quarter 2026 Results; Reaffirms Full Year 2026 Guidance | AAP Stock News](https://longbridge.com/en/news/287202242.md) - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [REEVES CONFIRMS NO INCREASE IN UK FUEL DUTY IN 2026](https://longbridge.com/en/news/287213292.md) - [Correction: NextNRG to Host First Quarter 2026 Financial Results Conference Call on May 18, 2026 at 9:00 a.m. ET | NXXT Stock News](https://longbridge.com/en/news/286673001.md)