Phillips Edison reaffirms 2026 earnings guidance, lifts acquisitions range

• Year to date through Sept. 30, PECO acquired $459.7 million in assets and sold $174.0 million.
• Gross acquisitions guidance rises to $600 million-$700 million for full-year 2026.
• Disposition expectations increase to $200 million-$250 million.
• PECO plans another guidance update with third-quarter results on Oct. 26, 2026.

Phillips Edison & Company on Oct. 1 reaffirmed its full-year 2026 earnings guidance and raised gross acquisitions guidance to $600 million-$700 million. The company also updated disposition expectations and net contributions to joint ventures.

Phillips Edison reaffirms 2026 earnings guidance, lifts acquisitions range

Investment activity

Year to date through Sept. 30, 2026, PECO said it acquired $459.7 million in assets at its total prorated share. It also sold $174.0 million in assets.

The company now expects full-year 2026 gross acquisitions of $600 million-$700 million, up from $500 million-$600 million. Dispositions are now expected at $200 million-$250 million, versus $100 million-$200 million previously.

PECO said it now expects net contributions to joint ventures of $200 million-$250 million.

Earnings guidance

The company kept its 2026 net income per diluted share guidance at $0.95-$0.97. It also left Nareit FFO per diluted share at $2.67-$2.72 and Core FFO per diluted share at $2.73-$2.79.

PECO said the reaffirmed midpoint of its 2026 Nareit FFO per diluted share guidance implies 6.3% year-over-year growth. The midpoint of its Core FFO per diluted share guidance implies 6.2% growth, while same-center NOI guidance points to 3.7% growth.

Jeff Edison, chairman and chief executive officer, said the recently announced expanded joint venture with Northwestern Mutual reflects PECO’s commitment to match-funding on a larger scale. He said it allows the company to maintain an investment in high-quality, stabilized assets while generating proceeds to acquire grocery-anchored and Everyday Retail centers with long-term growth profiles.

PECO plans to provide an update on additional full-year 2026 guidance components with its third-quarter 2026 earnings results on Monday, Oct. 26, 2026.