TakeoverPE & activists

PECOPhillips Edison & Company, Inc.

Real Estate Investment Trusts · $4.9B market cap · 320 employees

1.1×

About as likely as average to be taken private

Top 16% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

4of 15 firedHow well they predict deals →
11 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    313% of net income
    Cash flow under 80% of net income
  • Payouts exceed cash flowNo
    45% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    1% of assets
    Over 40% of assets
  • Shareholder dissentNo
    97% lowest support
    Any vote under 80% support
  • Quiet on AINo
    2.6 per 10K words · 63rd pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    92.3× EBITDA net debt
    More cash than debt, positive EBITDA
  • AI-rollup shapedNo
    0 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Active 13DNo
    0 filings
    Active-intent 13D in 18 months
  • Net insider sellingNo
    $0 net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Jul 6, 2017DEFM14A—$10.2010.2%
Jun 21, 2017PREM14A—$10.20100%
Jun 7, 2016SC TO-T/ACMG PARTNERS LLC——
May 9, 2016SC TO-T/ACMG PARTNERS LLC——
Apr 22, 2016SC TO-TCMG PARTNERS LLC——
May 21, 2013SC TO-T/AREIT Exchange Fund, Inc.——
Apr 24, 2013SC TO-T/AREIT Exchange Fund, Inc.——
Apr 15, 2013SC TO-T/AREIT Exchange Fund, Inc.——
Apr 10, 2013SC TO-TREIT Exchange Fund, Inc.——

Key numbers

Revenue
$13MFY2021: $10MFY2022: $12MFY2023: $10MFY2024: $11MFY2025: $13M
19% YoY
Operating margin
—
EBITDA
—
Net debt / EBITDA
—
$2.5B net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$10M$12M$10M$11M$13M 19% FY2021: $10MFY2022: $12MFY2023: $10MFY2024: $11MFY2025: $13M
Net income$15M$48M$57M$63M$111M 78% FY2021: $15MFY2022: $48MFY2023: $57MFY2024: $63MFY2025: $111M
Operating cash flow$263M$291M$291M$335M$348M 4.0% FY2021: $263MFY2022: $291MFY2023: $291MFY2024: $335MFY2025: $348M
Stock-based comp$16M$15M$7M$10M$12M 20% FY2021: $16MFY2022: $15MFY2023: $7MFY2024: $10MFY2025: $12M
Buybacks$78M$0$0——FY2021: $78MFY2022: $0FY2023: $0
Dividends$107M$127M$136M$134M$157M 17% FY2021: $107MFY2022: $127MFY2023: $136MFY2024: $134MFY2025: $157M

13D filers

FiledFilerFormStakeIntent
Jan 27, 2022Edison JeffreySC 13D/A7.2%Passive
Jul 19, 2021Edison JeffreySC 13D6.6%Passive

Insider trading

No open-market trades in the last 12 months.

Pay vs performance

No pay-versus-performance disclosure yet.