Phillips Edison & Company, Inc. · NASDAQ:PECO
Phillips Edison & — Phillips Edison Grocery Center REIT I — Q3 2016 Earnings Presentation
16 slides from Phillips Edison &'s earnings presentation, Nov 21, 2016
Slide 1: Third Quarter 2016 Results
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 1 Phillips Edison Grocery Center REIT I, Inc. Third Quarter 2016 Results www.grocerycenterREIT1.com DST: 888.518.8073 Griffin Capital Securities: 866.788.8614
Slide 2: Agenda
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 2 Agenda • Portfolio & Results • Other Updates R. Mark Addy - President and COO
Slide 3: Forward-Looking Statement Disclosure
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 3 Forward-Looking Statement Disclosure This presentation and the corresponding call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934
Slide 4: Q3 2016 Portfolio Highlights
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 4 Q3 2016 Portfolio Highlights • 150 properties • 28 states • 24 leading grocery anchors • 16 million square feet • 95.9% occupied • 79.4% of rents from grocer, national and regional tenants Information as of 9/30/2016.
Slide 5: Q3 2016 Portfolio Results
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 5 Q3 2016 Portfolio Results Grocer % of ABR # ofLocations Kroger 8.4% 37 Publix 7.7% 31 Albertsons-Safeway 4.2% 13 Ahold Delhaize 4.3% 10 Giant Eagle 2.8% 7 Top 5 Grocers by % of Annualized Base Rent Annualized Base Rent by Tenant Type Annua
Slide 6: Q3 2016 Acquisition Highlights
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 6 Name Location Grocer GLA Oak Mill Plaza1 Niles, IL Jewel-Osco 163,286 Harbour Village Jacksonville, FL The Fresh Market 113,004 Q3 2016 Acquisition Highlights Oak Mill Plaza Harbour Village 1Oak Mill Plaza acquired October 3, 2016.
Slide 7: Year to Date 2016 Same-Center Net Operating Income
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 7 Year to Date 2016 Same-Center(1) Net Operating Income Three Months Ended September 30, Nine Months Ended September 30, (in 000s) 2016 2015 $ Change % Change 2016 2015 $ Change % Change Revenues: Rental income(2) $ 41,902 $ 40,695 $ 1,207 $
Slide 8: Debt Profile as of September 30, 2016
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 8 Debt Profile as of September 30, 2016 • Debt to Enterprise Value: 32.7%* • Weighted-Average Interest Rate: 3.0% • Weighted-Average Years to Maturity: 4.2 • Fixed-rate debt: 62.1% • Variable-rate debt: 37.9% *Calculated as net debt (total d
Slide 9: Company Updates
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 9 Company Updates • Reaffirmed est. net asset value per share of $10.20 as of March 31, 2016* • Share Repurchase Program Status • Partnered with Griffin Capital Corporation * Please note that the estimated value per share is not intended to
Slide 10: Appendix
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 10 Appendix
Slide 11: Reconciliation of Non-GAAP Financials
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 11 Reconciliation of Non-GAAP Financials We present Same-Center Net Operating Income (“Same-Center NOI”) as a supplemental measure of our performance. We define Net Operating Income (“NOI”) as total operating revenues less property operating
Slide 12: Reconciliation of Non-GAAP Financials
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 12 Reconciliation of Non-GAAP Financials Below is a reconciliation of net income (loss) to Same-Center NOI for the three and nine months ended September 30, 2016 and 2015 (in thousands): Funds from Operations and Modified Funds from Operatio
Slide 13: Reconciliation of Non-GAAP Financials
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 13 Reconciliation of Non-GAAP Financials Since the definition of FFO was promulgated by NAREIT, GAAP has expanded to include several new accounting pronouncements, such that management and many investors and analysts have considered the pres
Slide 14: Reconciliation of Non-GAAP Financials
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 14 Reconciliation of Non-GAAP Financials Neither FFO nor MFFO should be considered as an alternative to net income (loss) or income (loss) from continuing operations under GAAP, nor as an indication of our liquidity, nor is either of these m
Slide 15: Reconciliation of Non-GAAP Financials
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 15 Reconciliation of Non-GAAP Financials Three Months Ended September 30, Nine Months Ended September 30, (in 000s) 2016 2015 2016 2015 Calculation of FFO Net income attributable to stockholders $ 2,464 $ 5,183 $ 5,243 $ 15,524 Adjustments:
Slide 16: Thank You
The Grocery REITPhillips Edison-ARC Grocery Center REIT II 16 Thank You www.grocerycenterREIT1.com DST: 888.518.8073 Griffin Capital Securities: 866.788.8614
Phillips Edison Grocery Center REIT I — Q3 2016 Earnings Presentation on 6ix