Phillips Edison & Company, Inc. (NASDAQ:PECO) Declares $0.10 Monthly Dividend

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Monday, November 4th, Wall Street Journal reports. Investors of record on Tuesday, February 18th will be paid a dividend of 0.1025 per share on Tuesday, March 4th. This represents a $1.23 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Tuesday, February 18th.

Phillips Edison & Company, Inc. has a payout ratio of 208.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Phillips Edison & Company, Inc. to earn $2.55 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 48.2%.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock traded up $0.28 during midday trading on Monday, hitting $38.08. 477,614 shares of the company traded hands, compared to its average volume of 663,380. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 82.17, a PEG ratio of 3.47 and a beta of 0.57. The firm’s fifty day moving average price is $37.27 and its 200-day moving average price is $34.61. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same quarter last year, the firm posted $0.58 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PECO. Mizuho lifted their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Compass Point boosted their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.50.

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.