Phillips Edison raises 2026 acquisitions outlook to $600 million-$700 million

Phillips Edison & Company said on Thursday that it has reaffirmed its full-year 2026 earnings guidance while increasing its gross acquisitions outlook for the year to $600 million-$700 million. The shopping-centre owner also said it had bought $459.7 million of assets at PECO’s total prorated share and sold $174.0 million of assets through September 30.

The company kept its 2026 guidance ranges unchanged for net income per diluted share at $0.95-$0.97, Nareit FFO per diluted share at $2.67-$2.72, Core FFO per diluted share at $2.73-$2.79 and same-center NOI growth at 3.40%-4.00%. PECO said the midpoint of its full-year guidance implies 6.3% year-over-year growth for Nareit FFO per diluted share, 6.2% growth for Core FFO per diluted share and 3.7% growth for same-center NOI.

Gross acquisitions guidance had previously been set at $500 million-$600 million. The company also increased its full-year 2026 disposition expectations to $200 million-$250 million from $100 million-$200 million, and it now expects net contributions to joint ventures of $200 million-$250 million.

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

PECO said it plans to give an update on additional full-year 2026 guidance components alongside its third-quarter 2026 earnings results on Monday, October 26, 2026. As of June 30, 2026, the company managed 330 shopping centers, including 302 wholly owned centers across 31 states and 28 shopping centers owned in three institutional joint ventures.