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PHILLIPS EDISON & COMPANY, INC.

(PECO)
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Phillips Edison mpany : Announces the Grand Opening of Publix at Shoppes of Lake Village in Leesburg, FL

09/01/2021 | 09:11am EDT

Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO”), one of the nation’s largest owners and operators of grocery-anchored omni-channel neighborhood shopping centers, is pleased to celebrate the grand opening of Publix’s newest store at Shoppes of Lake Village in Leesburg, Florida. Publix is the number one grocer in Florida and its new 48,387 square-foot store at Shoppes of Lake Village will offer shoppers a diverse collection of premier quality food.

“Adding Publix’s new store to Shoppes of Lake Village further enhances the center’s already strong merchandising mix, enabling us to better serve the needs of our shoppers,” said Bob Myers, Chief Operating Officer at Phillips Edison & Company. “With its high-touch service, top-quality products and focus on customer value, Publix embodies all the attributes of what we consider to be an ideal retail partner.”

Founded in 1930 in Winter Haven, Florida, Publix is the largest employee-owned company in the United States. The grocer is one of the 10 largest-volume supermarket chains in the country. Publix currently has 1,281 store locations across the Southeast. The grocers’ mission is to be the premier quality food retailer in the world.

In addition to Publix, Shoppes of Lake Village currently features national tenants such as Advance Auto Parts, H&R Block, Dollar Tree and Wells Fargo. The center is also preparing to welcome a diverse collection of other leading brands including Arby’s, Wings Ranch, Play It Again Sports, Mariner Finance and Sproutfitters. Shoppes of Lake Village is located at the intersection of Lakes Boulevard and US Highway 441.

About Phillips Edison & Company

Phillips Edison & Company, Inc. (“PECO”), an internally-managed REIT, is one of the nation’s largest owners and operators of grocery-anchored shopping centers. PECO’s diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States. Through its vertically-integrated operating platform, the Company manages a portfolio of 294 shopping centers, including 272 wholly-owned centers comprising approximately 30.8 million square feet across 31 states (as of June 30, 2021). PECO has generated strong operating results over its 30+ year history and has partnered with leading institutional commercial real estate investors including TPG Real Estate and The Northwestern Mutual Life Insurance Company. The Company remains exclusively focused on creating great omni-channel grocery-anchored shopping experiences and improving the communities it serves one center at a time. For more information, please visit www.phillipsedison.com.

PECO uses, and intends to continue to use, its Investors website, which can be found at www.phillipsedison.com/investors, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD.


ę Business Wire 2021
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Financials (USD)
Sales 2021 521 M - -
Net income 2021 14,0 M - -
Net Debt 2021 1 768 M - -
P/E ratio 2021 224x
Yield 2021 3,10%
Capitalization 3 572 M 3 572 M -
EV / Sales 2021 10,2x
EV / Sales 2022 10,3x
Nbr of Employees 300
Free-Float 98,1%
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Number of Analysts 8
Last Close Price 31,43 $
Average target price 33,43 $
Spread / Average Target 6,36%
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Managers and Directors
Jeffrey S. Edison Chairman & Chief Executive Officer
Devin Ignatius Murphy President
John P. Caulfield Chief Financial Officer, Treasurer & Senior VP
Kevin McCann Chief Information Officer
Robert F. Myers Chief Operating Officer & Executive VP