IPO Stock Expecting 225% Growth Goes Shopping For Fresh Breakout

If you frequent Trader Joe’s, Walmart (WMT), Kroger (KR), Albertsons (ACI), Walgreens Boots Alliance (WBA) and/or Starbucks (SBUX), shopping center-focused Phillips Edison & Company (PECO) likely has your retail needs…

covered. And with over 5,000 tenants, this REIT and 2021 IPO is now shopping for a fresh breakout of its own.

Founded in 1991, Phillips Edison (PECO) is one of the largest owners and operators of omnichannel grocery-anchored shopping centers. The Cincinnati, Ohio-based real estate investment trust, or REIT, has also established itself among the top IPOs.

While the stock market indexes have come under pressure recently, PECO has held up nicely, with its relative strength line hitting a new high.

Viewed on a daily chart, the IPO has a choppy, volatile look to it. But the long-term weekly chart smooths out that turbulence, giving PECO a more stable feel. It has shown good support at its 10-week moving average.

Having earned a spot on the IBD Breakout Stocks Index. PECO stock is just shy of a 35.07 buy point in a first-stage consolidation.

Leading REIT IPO Eyes Triple-Digit Growth

Focused on grocery-anchored neighborhood shopping centers, Phillips Edison features a mix of national and regional retailers providing necessity-based goods and services in markets across the country. As of Dec. 31, 2021, PECO managed 289 shopping centers, including 268 wholly owned centers. The REIT comprises approximately 30.7 million square feet across 31 states.

As well as securing a spot among leading IPOs, PECO earns a spot among the best dividend stocks, with a 3.2% yield on an annualized basis.

Rather than earnings, REIT stocks report funds from operations, or FFO. With its next report expected in March, analysts expect PECO to post 110% FFO growth for Q4 and a 225% increase for the full year. For 2022, analysts see 208% growth.

While the stock market indexes remain…

 

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