Phillips Edison marks 1st US REIT IPO of 2021

July 16, 2021 | Chris Hudgins | S&P Global Market Intelligence

Phillips Edison & Co. Inc.’s recent IPO marked the first U.S. real estate investment trust IPO of 2021, with the shopping center REIT selling 17 million shares at $28 a piece for $476 million in aggregate proceeds, excluding the additional 2,550,000 shares available for sale at the same price through a 30-day overallotment period.

In comparison, the U.S. REIT sector saw three IPOs in 2020 — Presidio Property Trust, Broadstone Net Lease Inc., and NETSTREIT Corp. — all of which closed later in the calendar year.

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