PECO on Nasdaq
Phillips Edison & Company, Inc.
American real estate investment trust, incorporated in Maryland. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
Compare with Global Self Storage, Inc., Camden Property Trust or Land Securities, or pick any stock.
- TickerPECO on Nasdaq1
- IndustryReal Estate Investment Trusts1
- HeadquartersCincinnati, Ohio1
- Incorporated inMD2
- Business address11501 Northlake Drive, Cincinnati, Oh 452492
- Filer categoryLarge accelerated filer2
See how the biggest companies compare on our leaderboards
All references to “Notes” throughout this Annual Report on Form 10-K refer to the footnotes to the consolidated financial statements in “Part II, Item 8. Financial Statements and Supplementary Data”.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Income tax1¢$1.3M
- Profit99¢$111.3M
Out of $12.8M in revenue.4
Where each dollar of operating cash went, fiscal 2025
- Dividends paid45¢$157.3M
- Kept or used elsewhere55¢$190.9M
Out of $348.1M of cash from operations.4
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Rental income | $709.2M | $647.6M | $597.5M |
| Fees and management income | $12.8M | $10.7M | $9.6M |
| Other property income | $4.7M | $3.1M | $3.0M |
| Total revenues | $726.6M | $661.4M | $610.1M |
| Property operating | $123.6M | $112.6M | $102.3M |
| Real estate taxes | $86.1M | $77.7M | $72.8M |
| General and administrative | $51.6M | $45.6M | $44.4M |
| Depreciation and amortization | $266.4M | $253.0M | $236.4M |
| Total operating expenses | $527.7M | $488.9M | $455.9M |
| Interest expense, net | -$110.3M | -$97.0M | -$84.2M |
| Gain (loss) on disposal of property, net | $38.8M | -$30.0K | $1.1M |
| Other expense, net | -$4.3M | -$5.7M | -$7.3M |
| Net income | $123.0M | $69.7M | $63.8M |
| Net income attributable to stockholders | $111.3M | $62.7M | $56.8M |
| Net income per share attributable to stockholders - basic (in dollars per share) | $0.89 | $0.51 | $0.48 |
| Net income per share attributable to stockholders - diluted (in dollars per share) | $0.89 | $0.51 | $0.48 |
| Change in unrealized value on interest rate swaps | -$4.4M | -$7.0M | -$11.8M |
| Comprehensive income | $118.6M | $62.7M | $51.9M |
| Net income attributable to noncontrolling interests | -$11.7M | -$7.0M | -$6.9M |
| Change in unrealized value on interest rate swaps attributable to noncontrolling interests | $409.0K | $701.0K | $1.3M |
| Reallocation of comprehensive income upon conversion of noncontrolling interests | $3.0K | $42.0K | $71.0K |
| Comprehensive income attributable to stockholders | $107.4M | $56.5M | $46.4M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Land and improvements | $2.0B | $1.9B | ||
| Building and improvements | $4.3B | $4.1B | ||
| In-place lease assets | $538.3M | $523.2M | ||
| Above-market lease assets | $77.6M | $76.4M | ||
| Total investment in real estate assets | $6.9B | $6.6B | ||
| Accumulated depreciation and amortization | -$2.0B | -$1.8B | ||
| Net investment in real estate assets | $4.9B | $4.8B | ||
| Investment in unconsolidated joint ventures | $42.6M | $31.7M | ||
| Total investment in real estate assets, net | $5.0B | $4.8B | ||
| Cash and cash equivalents | $3.5M | $4.9M | $4.9M | |
| Restricted cash | $39.8M | $3.8M | $4.0M | |
| Goodwill | $29.1M | $29.1M | ||
| Other assets, net | $244.3M | $195.3M | ||
| Total assets | $5.3B | $5.0B | ||
| Debt obligations, net | $2.4B | $2.1B | ||
| Below-market lease liabilities, net | $118.4M | $116.1M | ||
| Accounts payable and other liabilities | $180.3M | $163.7M | ||
| Deferred income | $23.0M | $22.9M | ||
| Total liabilities | $2.7B | $2.4B | ||
| Commitments and contingencies (see Note 11) | $0 | $0 | ||
| Preferred stock | $0 | $0 | ||
| Common stock | $1.3M | $1.3M | ||
| Additional paid-in capital (APIC) | $3.7B | $3.6B | ||
| Accumulated other comprehensive income (AOCI) | $358.0K | $4.3M | ||
| Accumulated deficit | -$1.4B | -$1.3B | ||
| Total stockholders equity | $2.3B | $2.3B | ||
| Noncontrolling interests | $302.8M | $314.1M | ||
| Total equity | $2.6B | $2.6B | $2.7B | $2.6B |
| Total liabilities and equity | $5.3B | $5.0B | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Land and improvements | $2.0B | $1.9B | ||
| Building and improvements | $4.3B | $4.1B | ||
| In-place lease assets | $538.3M | $523.2M | ||
| Above-market lease assets | $77.6M | $76.4M | ||
| Total investment in real estate assets | $6.9B | $6.6B | ||
| Accumulated depreciation and amortization | -$2.0B | -$1.8B | ||
| Net investment in real estate assets | $4.9B | $4.8B | ||
| Investment in unconsolidated joint ventures | $42.6M | $31.7M | ||
| Total investment in real estate assets, net | $5.0B | $4.8B | ||
| Cash and cash equivalents | $3.5M | $4.9M | $4.9M | |
| Restricted cash | $39.8M | $3.8M | $4.0M | |
| Goodwill | $29.1M | $29.1M | ||
| Other assets, net | $244.3M | $195.3M | ||
| Total assets | $5.3B | $5.0B | ||
| Debt obligations, net | $2.4B | $2.1B | ||
| Below-market lease liabilities, net | $118.4M | $116.1M | ||
| Accounts payable and other liabilities | $180.3M | $163.7M | ||
| Deferred income | $23.0M | $22.9M | ||
| Total liabilities | $2.7B | $2.4B | ||
| Commitments and contingencies (see Note 11) | $0 | $0 | ||
| Preferred stock | $0 | $0 | ||
| Common stock | $1.3M | $1.3M | ||
| Additional paid-in capital (APIC) | $3.7B | $3.6B | ||
| Accumulated other comprehensive income (AOCI) | $358.0K | $4.3M | ||
| Accumulated deficit | -$1.4B | -$1.3B | ||
| Total stockholders equity | $2.3B | $2.3B | ||
| Noncontrolling interests | $302.8M | $314.1M | ||
| Total equity | $2.6B | $2.6B | $2.7B | $2.6B |
| Total liabilities and equity | $5.3B | $5.0B | ||
| Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred stock, authorized (in shares) | 10.0M shares | 10.0M shares | ||
| Preferred stock, issued (in shares) | 0 shares | 0 shares | ||
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $123.0M | $69.7M | $63.8M |
| Depreciation and amortization of real estate assets | $264.8M | $251.2M | $234.3M |
| Depreciation and amortization of corporate assets | $1.5M | $1.8M | $2.2M |
| Net amortization of above- and below-market leases | -$8.6M | -$6.6M | -$5.2M |
| Amortization of deferred financing expenses | $4.9M | $4.5M | $4.2M |
| Amortization of debt and derivative adjustments | $2.4M | $3.2M | $2.9M |
| Loss on extinguishment or modification of debt, net | $90.0K | $1.3M | $368.0K |
| (Gain) loss on disposal of property, net | -$38.8M | $30.0K | -$1.1M |
| Impairment of investment in third parties | $0 | $0 | $3.0M |
| Straight-line rent, net | -$10.7M | -$9.7M | -$10.1M |
| Share-based compensation | $11.7M | $9.7M | $6.9M |
| Return on investment in unconsolidated joint ventures | $772.0K | $348.0K | $271.0K |
| Other | -$243.0K | -$529.0K | -$1.0M |
| Other assets, net | -$17.5M | -$16.6M | -$11.5M |
| Accounts payable and other liabilities | $14.8M | $26.4M | $2.1M |
| Net cash provided by operating activities | $348.1M | $334.7M | $291.0M |
| Real estate acquisitions, net | -$360.2M | -$296.3M | -$270.3M |
| Capital expenditures | -$136.1M | -$95.1M | -$95.3M |
| Proceeds (payments) from sale of real estate, net | $121.7M | -$17.0K | $7.2M |
| Investment in unconsolidated joint ventures | -$13.7M | -$8.4M | $0 |
| Return of investment in unconsolidated joint ventures | $1.9M | $1.8M | $2.0M |
| Investment in marketable securities | -$8.3M | -$4.1M | $0 |
| Proceeds from sale of marketable securities | $133.0K | $5.8M | $400.0K |
| Insurance proceeds for property damage claims | $2.4M | $3.2M | $2.6M |
| Net cash used in investing activities | -$392.3M | -$392.9M | -$353.4M |
| Proceeds from the issuance of common stock | $0 | $74.5M | $149.1M |
| Payment of offering costs | $0 | -$929.0K | -$1.9M |
| Proceeds from revolving credit facility | $747.0M | $474.0M | $503.0M |
| Payments on revolving credit facility | -$695.0M | -$615.0M | -$401.0M |
| Proceeds from notes and loans payable, net | $346.3M | $683.0M | $58.0M |
| Payments on mortgages and loans payable | -$145.6M | -$408.5M | -$101.5M |
| Distributions paid | -$157.3M | -$134.0M | -$135.7M |
| Distributions to noncontrolling interests | -$16.6M | -$15.2M | -$16.0M |
| Net cash provided by financing activities | $78.8M | $58.0M | $53.9M |
| NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH | $34.7M | -$229.0K | -$8.5M |
| Cash paid for interest | $97.7M | $75.0M | $76.5M |
| Cash paid for income taxes, net | $1.6M | $922.0K | $689.0K |
| Right-of-use (ROU) assets obtained in exchange for new lease liabilities | $1.1M | $57.0K | $887.0K |
| Secured loan receivable | $17.4M | $0 | $0 |
| Accrued capital expenditures | $13.4M | $15.9M | $9.9M |
| Assumed other liabilities | $0 | $225.0K | $0 |
| Receivable from issuance of common stock | $0 | -$1.7M | $1.7M |
| Assumed debt obligations, net | $0 | $0 | $9.6M |
| Assumed below-market debt | $0 | $0 | $444.0K |
| Change in distributions payable | $845.0K | $12.8M | -$293.0K |
| Change in distributions payable - noncontrolling interests | $143.0K | $1.7M | $338.0K |
No quarter-by-quarter statement was filed.
Compare Phillips Edison & Company, Inc. with another company
Leadership
Who has led Phillips Edison & Company, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
201520202025
- Chief executive officerJeffrey Edison Apr 30, 2012 to now12
- ChairJeffrey Edison Apr 2, 2013 to now13
- PresidentRobert F. Myers Jan 3, 2024 to now14
- PresidentJeffrey Edison Jan 4, 2019 to May 24, 201915
- PresidentDevin Ignatius Murphy Nov 1, 2019 to Nov 1, 202316
- PresidentRobert Mark Addy May 20, 2013 to Mar 5, 201517
- PresidentJohn Bessey Apr 30, 2012 to Mar 2, 201518
- Chief financial officerDevin Ignatius Murphy Dec 19, 2013 to May 24, 201919
- Chief operating officerJoseph Schlosser Feb 14, 2025 to now20
- Chief operating officerRobert F. Myers Nov 13, 2017 to Nov 1, 202321
- Chief operating officerRobert Mark Addy Apr 30, 2012 to Mar 5, 201522
Board members and other officers (17)
- Managing DirectorDevin Ignatius Murphy Jan 3, 2024 to Mar 5, 202423
- OfficerTanya Brady Mar 14, 2019 to now24
- Executive Vice PresidentRobert Mark Addy Nov 13, 2017 to Jan 3, 202025
- Chief Accounting OfficerJennifer L. Robison Mar 9, 2015 to now26
- Board memberDevin Ignatius Murphy Jul 5, 2024 to now27
- Board memberParilee Edison Wang Jun 30, 2023 to now28
- Board memberAnthony E. Terry Nov 1, 2023 to now29
- Board memberElizabeth Fischer Nov 7, 2019 to now30
- Board memberJane Silfen Nov 7, 2019 to now31
- Board memberDavid W. Garrison Nov 20, 2018 to Mar 14, 201932
- Board memberJohn A. Strong Nov 20, 2018 to now33
- Board memberStephen R. Quazzo Nov 18, 2013 to now34
- Board memberEthan Hershman Apr 30, 2012 to Jul 11, 201335
- Board memberJeffrey Edison Apr 30, 2012 to Nov 13, 201712
- Board memberLeslie T. Chao Apr 30, 2012 to now36
- Board memberPaul Massey Apr 30, 2012 to Nov 23, 202237
- Board memberWilliam M. Kahane Apr 30, 2012 to Apr 30, 201238
Former names
Timeline
- Apr 30, 2012New chief executive Jeffrey Edison becomes CEO12
Filings
319 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 68 major events, 166 insider forms, 32 large holders, 33 other. The latest 20:
- Oct 2, 20268-K EDGAR
- Sep 1, 20268-K EDGAR
- Aug 10, 20268-K EDGAR
- Aug 10, 2026424B5 EDGAR
- Aug 5, 20268-K EDGAR
- Jul 24, 202610-Q EDGAR
- Jul 23, 20268-K EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- May 14, 20264 EDGAR
- May 14, 20264 EDGAR
- May 14, 20264 EDGAR
- May 14, 20264 EDGAR
- May 14, 20264 EDGAR
- May 14, 20264 EDGAR
- May 14, 20264 EDGAR
- May 14, 20264 EDGAR
- May 14, 20264 EDGAR
- May 12, 20268-K EDGAR
- May 4, 20264 EDGAR
- May 4, 20264 EDGAR
The 319 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
2 open-market trades by officers, directors and large owners since October 2021: 1 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 16, 2023 | CHAO LESLIE TDirector | Buy | 10,000 | $29.18 | $291.8K | Form 4 |
| Nov 21, 2022 | Massey PaulDirector | Sale | 9,600 | $31.42 | $301.6K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Wellington Management CompanySCHEDULE 13G/A, 7 filings Feb 4, 2022 to May 15, 202639
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 202640
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 10, 2022 to Mar 26, 202641
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Feb 5, 202642
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/SC 13G/A, 4 filings Feb 2, 2022 to Feb 9, 202443
- State Street CorporationSC 13G, 1 filing Jan 29, 202444
- Janus Henderson Group Ltd.SC 13G/A, 2 filings Feb 11, 2022 to Feb 9, 202345
- MILLENNIUM MANAGEMENT LLCSC 13G/A, 2 filings Mar 11, 2022 to Jan 19, 202346
- FMR LLCSC 13G/A, 2 filings Feb 9, 2022 to Feb 10, 202247
- INTEGRATED CORE STRATEGIES (US) LLCSC 13G/A, 1 filing Feb 2, 202248
- Jeffrey EdisonSC 13D/A, 1 filing Jan 27, 202249
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 23,307,528 | $970.1M | 0.0% | +1,256,516 |
| Vanguard Portfolio Management LLC | 14,398,478 | $599.3M | 0.0% | +511,118 |
| State Street Corp | 7,290,689 | $304.2M | 0.0% | +161,064 |
| Vanguard Capital Management LLC | 5,728,291 | $238.4M | 0.0% | +32,997 |
| Fmr LLC | 4,220,531 | $175.7M | 0.0% | +87,939 |
| Wellington Management Group Llp | 4,011,362 | $167.0M | 0.0% | −1,200,733 |
| Geode Capital Management, LLC | 3,767,699 | $156.8M | 0.0% | +222,607 |
| Canada Pension Plan Investment Board | 3,351,653 | $139.5M | 0.1% | +54,980 |
| Goldman Sachs Group Inc | 2,939,127 | $122.3M | 0.0% | +1,235,955 |
| Charles Schwab Investment Management Inc | 2,468,884 | $102.8M | 0.0% | +105,405 |
| Northern Trust Corp | 2,346,911 | $97.7M | 0.0% | +856,424 |
| Duff & Phelps Investment Management Co | 2,006,105 | $83.5M | 0.8% | +204,589 |
| Jpmorgan Chase & Co | 1,928,640 | $81.7M | 0.0% | +136,992 |
| Dimensional Fund Advisors LP | 1,917,053 | $79.8M | 0.0% | +17,839 |
| Norges Bank | 1,652,337 | $68.8M | 0.0% | New |
| Bank Of America Corp /de/ | 1,123,351 | $46.8M | 0.0% | +569,574 |
| Bank of New York Mellon Corp | 998,094 | $41.5M | 0.0% | +55,482 |
| Arrowstreet Capital, Limited Partnership | 994,906 | $41.4M | 0.0% | +511,598 |
| Alyeska Investment Group, L.P. | 969,995 | $40.4M | 0.1% | +912,698 |
| Ameriprise Financial Inc | 946,006 | $39.4M | 0.0% | −1,315 |
| Morgan Stanley | 901,192 | $37.5M | 0.0% | −44,935 |
| Vanguard Fiduciary Trust Co | 840,299 | $35.0M | 0.0% | +14,672 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 836,830 | $34.8M | 0.0% | +834,250 |
| Nuveen, LLC | 805,923 | $33.5M | 0.0% | −186,930 |
| Jupiter Asset Management Ltd | 770,034 | $32.0M | 0.2% | New |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
3 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Aug 4, 2025 | Lisa C. McClainRepublican, House | Sale | $1,001 - $15,000 | +9.7% | Report |
| Jul 16, 2025 | Lisa C. McClainRepublican, House | Buy | $1,001 - $15,000 | −14.5% | Report |
| Jul 12, 2023 | Daniel S. GoldmanDemocratic, House | Sale | $15,001 - $50,000 | +61.6% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13SEC EDGARJeffrey Edison, Chair
- 14SEC EDGARRobert F. Myers, President
- 15SEC EDGARJeffrey Edison, President
- 16SEC EDGARDevin Ignatius Murphy, President
- 17SEC EDGARRobert Mark Addy, President
- 18SEC EDGARJohn Bessey, President
- 19
- 20
- 21
- 22
- 23
- 24SEC EDGARTanya Brady, Officer
- 25
- 26
- 27SEC EDGARDevin Ignatius Murphy, Board member
- 28SEC EDGARParilee Edison Wang, Board member
- 29SEC EDGARAnthony E. Terry, Board member
- 30SEC EDGARElizabeth Fischer, Board member
- 31SEC EDGARJane Silfen, Board member
- 32SEC EDGARDavid W. Garrison, Board member
- 33SEC EDGARJohn A. Strong, Board member
- 34SEC EDGARStephen R. Quazzo, Board member
- 35SEC EDGAREthan Hershman, Board member
- 36SEC EDGARLeslie T. Chao, Board member
- 37SEC EDGARPaul Massey, Board member
- 38SEC EDGARWilliam M. Kahane, Board member
- 39
- 40
- 41
- 42
- 43
- 44
- 45
- 46
- 47
- 48
- 49