2024-05-05 08:28:38 ET
Summary
- Phillips Edison is relatively overvalued compared to its peers in the shopping center sector.
- PECO has solid fundamentals and steady growth, but its properties are less impressive and it is in the later stages of growth.
- PECO's high occupancy limits its future growth potential compared to other shopping center REITs with lower occupancy rates.
Those who follow my work know that I am bullish on shopping centers right now due to the favorable supply/demand imbalance. Within the sector there is quite a bit of dispersion in both forward opportunity and valuation. Phillips Edison ( PECO ) represents the portion that is relatively overvalued....
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For further details see:
Phillips Edison: Less Remaining Growth Than Peers