Phillips Edison & Company is a publicly traded U.S. retail REIT that owns and operates grocery-anchored neighborhood shopping centers. Founded in 1991 by Jeffrey S. Edison and partners, the company has built a vertically integrated operating platform with in-house leasing, property management, redevelopment, acquisitions and capital markets capabilities. Following its 2021 IPO on the Nasdaq (ticker PECO), the company has continued to scale its portfolio through disciplined acquisitions and active asset management. PECO’s investment strategy targets necessity-based retail in suburban trade areas anchored by top-ranked grocers, emphasizing locations where anchors are the #1 or #2 by market sales. The portfolio is predominantly grocery-anchored centers with strong daily-needs tenancy (healthcare, quick service restaurants, fitness, service retail). Management complements this with redevelopment projects and selective outparcel development to grow NOI at attractive unlevered yields. Top markets are distributed nationally; clusters include the Midwest, Southeast and Sun Belt suburbs. Portfolio risk is mitigated by the necessity-based tenant mix and broad geographic diversification, though the strategy is exposed to grocery industry dynamics and capital markets conditions affecting acquisition yields and redevelopment returns. Major anchors and customers include Kroger, Publix, Albertsons and Ahold Delhaize banners; inline tenancy is diversified across restaurants, medical, beauty and service retail, limiting single-tenant dependence. The company’s strategic positioning rests on its specialization in grocery-anchored formats, embedded mark-to-market rents evidenced by high renewal spreads, and a robust external growth pipeline funded by a largely fixed-rate balance sheet.