Phillips Edison & Company, Inc. (Nasdaq: PECO) filed a Current Report on Form 8-K on October 1, 2026, disclosing updates to its 2026 investment activity and earnings guidance, as well as details regarding an expansion of its joint venture with Northwestern Mutual.
The company reaffirmed its full-year 2026 earnings guidance, which includes diluted net income per share of $0.95 to $0.97, Nareit FFO per diluted share of $2.67 to $2.72, and Core FFO per diluted share of $2.73 to $2.79. The midpoint of the Core FFO guidance represents 6.2% year-over-year growth. The company also reaffirmed its same-center net operating income (NOI) growth guidance of 3.40% to 4.00%.
In terms of portfolio activity, Phillips Edison updated its full-year 2026 gross acquisitions guidance to a range of $600 million to $700 million, up from the previous range of $500 million to $600 million. The company also increased its full-year 2026 disposition expectations to a range of $200 million to $250 million, up from the previous range of $100 million to $200 million. Additionally, the company provided expectations for net contributions to joint ventures in a range of $200 million to $250 million.
Year-to-date through September 30, 2026, Phillips Edison acquired $459.7 million in assets at its total prorated share and sold $174.0 million in assets.
Separately, the company announced the expansion of its joint venture with Northwestern Mutual through a transaction valued at approximately $377.5 million. The company stated that this expanded joint venture reflects its commitment to match-funding on a larger scale, allowing PECO to maintain an investment in high-quality, stabilized assets while generating proceeds to acquire grocery-anchored centers and Everyday Retail centers with strong long-term growth profiles.
Phillips Edison plans to provide an update on additional full year 2026 guidance components in conjunction with its Third Quarter 2026 earnings results on Monday, October 26, 2026.
