Phillips Edison & Company is a real estate investment trust that owns and operates a large portfolio of grocery-anchored shopping centers across the United States, generating revenue primarily through long-term lease agreements with necessity-based retailers. The company's properties are anchored by leading grocers and focus on suburban markets with strong household incomes and population growth, with the vast majority of revenue derived from leases to tenants providing everyday goods and services. The company also operates an ancillary investment management business providing property management and advisory services to institutional joint ventures, and pursues growth through disciplined acquisitions while maintaining a strong balance sheet and focusing on leasing optimization, occupancy, market advantages, and tenant retention.