Phillips Edison & Co Inc Q2 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Hong Liang Zhang - JPMorgan Chase & Co, Research Division - Analyst : Yes, so you've managed to keep a pretty tight spread between leased and physical occupancy historically. I guess just looking-forward as you continue to grow lease occupancy, do you expect to keep the spread between the 2, less than 100 basis points?

Question: Hong Liang Zhang - JPMorgan Chase & Co, Research Division - Analyst : Got it. Great quarter.

Question: Omotayo Tejamude Okusanya - CrTdit Suisse AG, Research Division - Analyst : Congrats on a strong quarter. My question has to do with the stock repurchase program. I mean the stock is up 15% over the past 12 months. It's basically flat year-to-date. It's really down maybe 3%, the past 3 months. I'm just kind of curious why the decision was made to have a program in place and when you may actually buy back stock, under what circumstances?

Question: Omotayo Tejamude Okusanya - CrTdit Suisse AG, Research Division - Analyst : And then again, the cautious optimism about the future, I don't kind of fully get it because of the uncertainty out there. Could you just talk a little bit about, again, within your portfolio or generally, when you kind of think about inflection points, is there any kind of retail categories that maybe you are starting to see soften up within your portfolio or even in a particular market, kind of irrespective of just how strong your results were in the quarter?