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Jun 30, 2021
Phillips Edison Q2 2021 Earnings Report
Phillips Edison reported an increase in total revenue and funds from operations, driven by improved collections and operating performance, and completed its IPO.
Key Takeaways
Phillips Edison & Company reported positive second-quarter 2021 results, marked by an 11.8% increase in total revenues to $133.1 million and a 24.3% increase in Core FFO to $64.3 million. The company successfully closed its IPO, raising $547 million, and experienced a 10.5% increase in same-center NOI.
Total revenues increased 11.8% to $133.1 million.
Core FFO increased 24.3% to $64.3 million, or $0.60 per diluted share.
Same-center NOI increased 10.5% to $87.7 million.
Leased portfolio occupancy totaled 94.7%.
Phillips Edison
Phillips Edison
Phillips Edison Revenue by Segment
Revenue by Segment
Rental Income Revenue
CapyFin.comFees and Management Income Revenue
CapyFin.comOther Property Income Revenue
CapyFin.com Forward Guidance
Phillips Edison anticipates meaningful growth opportunities due to macroeconomic tailwinds, including population migration to the suburbs and the Sun Belt, and more people working from home.
Positive Outlook
- Population migration to the suburbs and the Sun Belt.
- More people working from home.
- Investment grade balance sheet.
- Strong cash flow generating portfolio.
- Focus on owning and operating small-format centers anchored by top grocers.
Challenges Ahead
- No specific negatives were mentioned in the provided text.
Revenue & Expenses
Visualization of income flow from segment revenue to net income