• Phillips Edison & Company, Inc. recently reported past fourth-quarter and full-year 2025 results showing higher revenue of US$187.86 million and net income of US$47.53 million for the quarter, and issued 2026 guidance targeting net income per share between US$0.74 and US$0.77.
• An interesting aspect of this update is that management’s 2026 outlook includes Same-Center NOI growth of 3.8%, aligned with its stated long-term 3% to 4% range, suggesting confidence in the underlying performance of its grocery-anchored centers.
• We’ll now explore how this 2026 Same-Center NOI growth guidance influences Phillips Edison’s existing investment narrative around necessity-based retail centers.

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Phillips Edison Investment Narrative Recap

To own Phillips Edison, you need to be comfortable with a focused bet on necessity-based, grocery-anchored strip centers and their ability to keep attracting tenants and shoppers. The new 2025 results and 2026 Same-Center NOI growth guidance of 3.8% support the existing near term catalyst of stable, necessity-driven cash flows, while the key risk around tenant health and sector concentration in grocery-anchored centers remains largely unchanged for now.

The most relevant recent announcement here is the 2026 earnings guidance, with net income per share targeted between US$0.74 and US$0.77 and Same-Center NOI growth aligned with the long term 3% to 4% goal. This frames the current results as part of a steady, necessity-retail story, but it does not remove concerns that concentrated exposure to grocery-anchored tenants could become a vulnerability if industry conditions shift.

However, investors should still pay close attention to how dependent Phillips Edison is on a relatively narrow group of grocery anchors and what happens if...

Phillips Edison's narrative projects $811.1 million revenue and $93.3 million earnings by 2028.

Uncover how Phillips Edison's forecasts yield a $40.38 fair value, a 7% upside to its current price.

Exploring Other Perspectives

The single fair value estimate from the Simply Wall St Community sits at US$40.38, reflecting one private investor’s view of PECO’s potential. Against that backdrop, the company’s reliance on grocery anchored tenants and the risk of anchor closures may influence how you weigh that valuation and prompts a closer look at alternative opinions on Phillips Edison’s long term resilience.

Explore another fair value estimate on Phillips Edison - why the stock might be worth just $40.38!

Build Your Own Phillips Edison Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Phillips Edison research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Phillips Edison research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Phillips Edison's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.