Phillips Edison Raises 2026 Nareit and Core FFO Guidance Floors

Phillips Edison & Company, Inc. raised the lower ends of its full-year 2026 Nareit and Core funds from operations (FFO) guidance after third-quarter results showed higher revenue, net income and same-center operating income. The changes lift the company’s minimum per-share outlook while leaving both upper ends unchanged.

For the quarter ended Sept. 30, Core FFO was $0.71 per diluted share, up 9.2% from $0.65 in the third quarter of 2025. Nareit FFO, a non-GAAP REIT performance measure, was $0.69 per diluted share, an increase of 7.8% from $0.64. The company lists the two measures separately: $0.71 is Core FFO, while $0.69 is Nareit FFO.

Revenue totaled $193.088 million, compared with $182.669 million a year earlier. Net income attributable to stockholders climbed to $62.678 million, or $0.49 per diluted share, from $24.685 million, or $0.20 per diluted share. Same-center net operating income rose 5.3% to $122.371 million, up from $116.162 million.

The revised Nareit FFO guidance for 2026 ranges from $2.68 to $2.72 per diluted share, compared with the previous range of $2.67 to $2.72. The Core FFO range is now $2.75 to $2.79 per diluted share, up from $2.73 to $2.79. The company raised the minimum in each range and kept both upper ends unchanged.

Phillips Edison operates grocery-anchored neighborhood shopping centers. As of Sept. 30, its wholly owned portfolio included 300 properties totaling about 33.9 million square feet across 31 states.

Chairman and CEO Jeff Edison said, “PECO delivered another quarter of strong financial results, and the operating environment remains solid.”

The company issued its results at 4:14 p.m. ET Monday, Oct. 26 (20:14 UTC).