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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, October 30th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.102 per share on Tuesday, December 3rd. This represents a $1.22 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, November 15th.

Phillips Edison & Company, Inc. has a payout ratio of 208.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Down 1.0 %

NASDAQ:PECO opened at $39.03 on Wednesday. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.83. The company has a market capitalization of $4.79 billion, a P/E ratio of 84.85, a P/E/G ratio of 3.62 and a beta of 0.57. The stock’s fifty day moving average is $37.56 and its two-hundred day moving average is $34.92.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. During the same period in the previous year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday. Compass Point boosted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Mizuho boosted their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and an average price target of $38.43.

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.