Phillips Edison Price Target Raised to $44 After 7.2% FFO Growth
Ladenburg raised Phillips Edison price target to $44 from $42, citing a shopping center sector re-rating in 2026 and reiterated a Buy rating. The REIT reported 2025 NAREIT FFO per share up 7.2%, core FFO up 7%, same-center NOI growth of 3.8% and plans $400–500M in 2026 acquisitions.
1. Analyst Upgrade and Target Increase
On March 5 Ladenburg raised Phillips Edison's price target to $44 from $42, citing a re-rating of the shopping center sector, and reiterated a Buy rating on the shares.
2. Q4 2025 Financial Highlights
The company achieved NAREIT FFO per share growth of 7.2%, core FFO per share growth of 7%, and a 3.8% rise in same-center net operating income in the fourth quarter.
3. 2026 Growth Outlook
Management projects mid-single-digit increases in both NAREIT and core FFO per share for 2026, reflecting confidence in steady cash-flow growth and strong fundamentals.
4. Acquisition Strategy and Operations
Phillips Edison plans $400 million to $500 million in gross property acquisitions in 2026, building on $400 million acquired in 2025, while its Locally Smart platform continues to drive rent growth and NOI performance.