Phillips Edison & Company Increases Dividend by 6.2%
On September 1, the board of Phillips Edison & Company (PECO) announced a 6.2% increase in its monthly dividend to $0.115 per share from $0.1083, raising the annualized payout to $1.38 from $1.30. The new rate will be paid on October 1 to shareholders of record as of September 15. This marks PECO’s sixth consecutive year of dividend growth and its third raise exceeding 5%. Retail REITs have benefited in 2026 due to limited supply, strong tenant demand, high occupancy rates, and rising rents. The company reported second-quarter Nareit FFO up 8.1% YoY to $0.67 per diluted share and Core FFO increased by 7.8%. Same-center NOI grew 3.8%, with portfolio occupancy at 97.3% and inline occupancy hitting a record high of 95.5%. Phillips Edison signed 304 leases covering about 1.2 million square feet, achieving rent spreads of up to 33.7% on new leases. Looking ahead, the company raised its full-year acquisition target to $500–600 million and has expanded into key markets such as Seattle, Minneapolis, and Dallas through recent purchases anchored by major grocery chains like Safeway and Kroger.
Topics: dividends real_estate reit