PECO Reports Record Earnings and 97% Occupancy in 2025 Growth Surge
Phillips Edison & Company (PECO) has released its financial results for 2025, showing strong growth in earnings and occupancy rates. The company reported higher net income, funds from operations (FFO), and portfolio performance compared to the previous year. Major acquisitions also expanded its property holdings across key US markets.
For the full year 2025, PECO recorded net income of $111.3 million, or $0.89 per diluted share. Its Core FFO per share rose by 7.0% to $2.60, while Nareit FFO per share increased by 7.2% to $2.54.
In the fourth quarter alone, net income reached $47.5 million ($0.38 per share), with Core FFO at $91.1 million ($0.66 per share) and Nareit FFO at $88.8 million ($0.64 per share). The company also saw a 3.2% rise in same-center net operating income (NOI) for the quarter and 3.8% for the full year.
PECO's property portfolio performed well, with overall leased occupancy at 97.3% and same-center occupancy at 97.6% by December 31, 2025. Inline leased occupancy hit a record 95.1%.
The company expanded its holdings by acquiring 13 shopping centers for $356.9 million, including Bel Air Town Center (Maryland), Surprise Lake Square (Washington), and Springs Plaza (Florida). Five more centers were bought through joint ventures for $38.6 million, bringing the total to 18. Asset sales for the year amounted to $145.4 million.
PECO's 2025 results highlight growth in earnings, occupancy, and property investments. The company's acquisitions and strong financial performance position it for continued expansion. Same-center NOI improvements and high occupancy rates reflect steady operational progress.
