Phillips Edison & Company, Inc. (NASDAQ:PECO) Updates FY 2024 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.490-0.540 for the period, compared to the consensus earnings per share estimate of 0.540. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY24 guidance to $2.37-2.45 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PECO. Mizuho lowered their target price on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a buy rating on the stock in a report on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating on the stock in a report on Wednesday, May 29th. Compass Point lowered their target price on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a neutral rating on the stock in a report on Monday, April 29th. Finally, Wells Fargo & Company lowered their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an underweight rating on the stock in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $37.43.

Phillips Edison & Company, Inc. Stock Performance

PECO traded down $0.19 during trading on Thursday, reaching $33.85. The company had a trading volume of 1,060,485 shares, compared to its average volume of 656,355. The firm’s 50-day simple moving average is $32.56 and its 200 day simple moving average is $33.85. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 73.59, a PEG ratio of 3.55 and a beta of 0.56. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $37.92.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a $0.0975 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 3.46%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.