Phillips Edison & Company stock is not currently available for purchase on any exchange. However, it is likely to be made public soon. Here’s everything we know so far – and how to buy it once it’s available.
With our guide, you’ll learn how to buy stocks and participate in the Phillips Edison & Company IPO.
What Is Phillips Edison & Company IPO Date?
Phillips Edison & Company has filed for a $502 million IPO of its common shares in the United States. Phillips Edison & Company, Inc plans to issue 17,000,000 shares of stock at a target price of $13.50-$15.50 during the week of July 16th.
Quick Phillips Edison & Company (PECO) History
Phillips Edison & Company, located in the United States, is a shopping center owner, buyer, and designer. The firm is based in Cincinnati, Ohio, and was formed in 1991. The company owns and manages grocery-anchored local retail malls across the United States.
Jeff Edison is the Principal and Chief Executive Officer of Phillips Edison & Company. PECO’s diverse portfolio of well-occupied local shopping malls includes a mix of national and regional businesses. In the early 1990s, Phillips Edison & Company bought its first retail complex, Nordan Shopping Center in Danville, Virginia.
The Company’s primary objective is on investing in grocery-anchored shopping centers. Phillips is one of the major operators of supermarket neighborhood shopping malls in the United States, having equity stakes in 300 shopping centers across over 30 states. Phillips is one of the major operators of ‘omni-channel’ supermarket neighborhood shopping malls in the United States, having equity stakes in 300 shopping centers across 31 states.
A variety of national and international companies may be found in PECO’s balanced portfolio of local shopping malls. PECO is looking to go public in order to pay down debt and support future property acquisitions.
Outlook for Phillips Edison & Company IPO
Phillips Edison & Company, Inc, one of the nation’s leading owners and operators of grocery-anchored local shopping malls, reported a net income of $0.1 million for the three months ending March 31, 2021, compared to $11.2 million for the same period in the previous year.
FFO attributable to shareholders and convertible noncontrolling interests fell 34.1 percent to $45.0 million, or $0.14 per diluted share, in the first quarter of 2021, from $68.2 million, or $0.20 per diluted share, in the previous quarter.
Phillips Edison & Company intends to use the net proceeds of the proposed offering to repay its $375.0 million unsecured term loan, fund general business activities, and promote development within the company through real estate purchases.
The offering’s joint book-running managers are J.P. Morgan, Morgan Stanley, BMO Capital Markets, Goldman Sachs & Co, KeyBanc Capital Markets, Mizuho Securities, and Wells Fargo Securities.
The Good and the Bad of Phillips Edison & Company IPO
There are numerous benefits that come with owning stock or shares in a company. The following are some of the advantages and disadvantages of being a Phillips Edison & Company shareholder.
Pros of Owning Phillips Edison & Company Stock
- Although PECO has been negatively impacted by the COVID-19 epidemic, it looks to be recovering well so far in 2021 based on their first quarter earnings trending upwards.
- PECO completed a new $980 million senior unsecured credit facility on July 2, 2021, headed by PNC Bank, National Association as Administrative Agent. The Facility is made up of two independent $240 million unsecured variable rate term loans and a $500 million revolving credit facility which is great news for investors interested in this PO.
- The Company’s EVPS has gone up due to their being a better outlook for grocery-anchored retail malls, as well as a drop in the applicable discount rate as a result of a more secure economic climate.
Cons of Owning Phillips Edison & Company Stock
- Phillips Edison & Company has a number of major competitors that operate in the shopping center industry which include Kimco Realty, Cedar Realty Trust, Kite Realty, Macerich Company, and Ramco-Gershenson Properties
- The growth in e-commerce activity has had an impact on retail malls, and the projected decline in demand for this space is projected to be relatively high for the remainder of the year.
- The biggest risk to the company’s forecast is the sluggish start-up of new companies following the pandemic, as well as the slow increase in leasing activity, which represents the highest rent rates in a certain area.
Steps to Buy Phillips Edison & Company IPO
To buy the Phillips Edison & Company IPO, you must first establish a brokerage account, then a trading account, deposit funds, and then start buying shares.
Step 1: Select the Brokerage
To invest in Phillips Edison & Company when it goes public, you’ll need a brokerage account. Consider creating a brokerage account now so you’ll be ready when the stock goes public.
Step 2: Open the Trading Account
After you’ve determined which brokerage is ideal for you, you’ll need to create an account with them. This account may be used to keep track of all the stocks in your portfolio.
Step 3: Deposit Funds Into the Account
After you’ve established a payment method to your account, you’ll be able to deposit funds to purchase Phillips Edison & Company shares. The following step is to decide how many Phillips Edison & Company stock shares you wish to buy.
Step 4: Search for the Phillips Edison & Company (PECO)
On the stock exchange, a ticker symbol is important since it is used to identify each publicly traded stock. Following the offering, the firm will be listed on the Nasdaq under the ticker code “PECO.”
Step 5: Purchase Phillips Edison & Company Stock
To purchase PECO shares, you must complete the following:
- Choose an action type.
- Enter the number of shares you want to purchase (or sell).
- Simply press the “buy” (or “sell”) button.
Should You Invest in Phillips Edison & Company IPO?
Phillips Edison & Company, Inc’s mission is to deliver the most effective assortment of goods and services to local consumers while also providing a safe and pleasant shopping experience that adds to and enriches the life of each community.
The most recent filings are not Phillips Edison’s first attempt at an IPO. Since 2010, the business has already filed on multiple occasions before with the stock market describing its ambitions to go public.
This might be the perfect time to invest in this company for investors looking to generate huge returns on a popular IPO. If you want to learn more about how to invest in IPOs, talk to a financial advisor.