Phillips Edison & Company, Inc.

Overview

Phillips Edison & Company, Inc. (PECO) is a U.S. real estate investment trust focused on owning, operating, and managing grocery-anchored neighborhood shopping centers. Its centers serve everyday shopping needs through grocery and other necessity-based retailers, including national, regional, and local tenants; PECO also manages properties for institutional joint ventures and a private fund.[1]

At December 31, 2025, PECO’s managed portfolio comprised approximately 324 shopping centers totaling 36.7 million square feet across 31 U.S. states.[2][1] Its stated objective is to operate well-occupied grocery-anchored centers to support long-term growth and stakeholder value, while acting as a responsible corporate citizen and contributing to strong shopping experiences and communities.[3] Rental income is its principal revenue source; it reported approximately $371 million in rental income for the six months ended June 30, 2026.[1][4] [1]+3

Products & services

Phillips Edison & Company’s core customer offering is leased space in grocery-anchored neighborhood shopping centers. Leases typically include tenant reimbursements for common-area maintenance, insurance, and real-estate taxes, in addition to rent.[5]

Tenant and leasing services include DashComm, a 24/7 platform for rent and billing questions, payments, lease documents, maintenance requests, and sales reporting; specialty leasing for short-term pop-ups, food trucks, seasonal retail, sampling, and events; and National Accounts support to help retailers identify locations across PECO’s portfolio.[6]+3 In 2026, the company also described an AI-enabled property search that lets users search with natural-language prompts, interact with listings, save locations, and request information.[10] The company reports revenue in categories such as rental income, fees and management income, and other property income, rather than disclosing performance by individual service offering.[11] [5]+6

Geographic presence

Phillips Edison & Company’s property portfolio is located in the United States, with 330 shopping centers across 31 states as of June 30, 2026.[12] Florida, California, and Texas were its largest state exposures by annualized base rent, representing 11.8%, 11.3%, and 10.2%, respectively, as of that date.[13]

The company lists its principal executive office in Cincinnati, Ohio.[14] The reviewed sources do not provide a geographic breakdown of revenue or employee locations. [13]+2

Business segments

Phillips Edison & Company reports one operating and reportable segment: Real Estate Properties. It owns and operates U.S. shopping centers, primarily grocery-anchored neighborhood and community centers, and also manages centers and provides real-estate and asset-management services to institutional joint ventures and a private fund. These management activities are not reported as separate segments.[15] The single segment accounts for all disclosed segment activity; the company does not report a contribution split among multiple segments.[16]

The portfolio’s grocery-anchored and tenant-use statistics are classifications, not separate business segments: as of June 30, 2026, grocery-anchored centers represented 94.1% of wholly owned portfolio ABR, while tenants providing necessity-based goods and services represented 74.5% of ABR.[17] Same-center property groupings and management activities are also used in performance analysis but do not constitute additional reportable segments.[18] [15]+4

Company history

Phillips Edison & Company traces its founding to 1991 and acquired its first shopping center, Nordan Shopping Center in Danville, Virginia, in 1992. It expanded through investment funds and grocery-anchored retail vehicles, including Fund II in 2003 and the launches of Phillips Edison Grocery Center REIT I in 2010 and REIT II in 2013.[19]

In 2017, the company internalized its management structure, acquiring certain real estate assets and a third-party investment-management business; the combined company then operated as Phillips Edison & Company.[20] It expanded through mergers with Grocery Center REIT II in 2018, adding 86 shopping centers, and Grocery Center REIT III in 2019.[19][21]

Phillips Edison priced its initial public offering in July 2021, began trading on Nasdaq under the ticker PECO on July 15, and closed the offering on July 19.[22] [20]+3

Sources

• Phillips Edison & Company, Inc. — Full financial report (2025 Y)
  4 citations

  [1][2][3][20]
• Phillips Edison & Company, Inc. — Full financial report (2026 Q 2)
  9 citations

  [4][5][11][13][14][15][16][17][18]
• www.phillipsedison.com[6]
• www.phillipsedison.com[7]
• www.phillipsedison.com[8]
• www.phillipsedison.com[9]
• investors.phillipsedison.com[10]
• investors.phillipsedison.com[12]
• www.phillipsedison.com[19]
• investors.phillipsedison.com[21]
• Phillips Edison & Company, Inc. — Full financial report (2021 Y)[22]