The latest update is out from Phillips Edison & Company ( (PECO) ).
Phillips Edison & Company reported strong third-quarter 2024 results, with net income of $11.6 million and an increased full-year earnings guidance. The company achieved impressive occupancy rates and executed leases with record-high rent spreads, reflecting robust operational performance. Acquisitions included five shopping centers and two land parcels, enhancing its portfolio. The company remains optimistic about its strategy of acquiring grocery-anchored shopping centers and has updated its acquisition guidance to $275-$325 million for the year.
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