Phillips Edison & Company, Inc. (NASDAQ:PECO) Declares Dividend Increase – $0.10 Per Share

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Tuesday, September 3rd, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.102 per share on Tuesday, October 1st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Monday, September 16th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.

Phillips Edison & Company, Inc. has a payout ratio of 180.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Phillips Edison & Company, Inc. to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 46.1%.

Phillips Edison & Company, Inc. Price Performance

PECO traded up $0.05 during trading on Thursday, hitting $37.13. The company’s stock had a trading volume of 46,737 shares, compared to its average volume of 661,519. The stock has a market cap of $4.55 billion, a PE ratio of 81.35, a PEG ratio of 3.51 and a beta of 0.57. The firm’s 50 day moving average price is $34.68 and its 200-day moving average price is $33.90. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $37.92.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $156.29 million. During the same period last year, the business posted $0.59 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of 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. Mizuho upped their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.33.

About Phillips Edison & Company, Inc.

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.