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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a dividend on Sunday, March 16th, investing.com reports. Investors of record on Tuesday, March 18th will be given a dividend of 0.1025 per share on Tuesday, April 1st. This represents a dividend yield of 3.53%. The ex-dividend date is Monday, March 17th.

Phillips Edison & Company, Inc. has raised its dividend payment by an average of 31.1% per year over the last three years. Phillips Edison & Company, Inc. has a payout ratio of 180.9% 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 $2.68 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 45.9%.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO traded up $0.38 during trading hours on Friday, reaching $34.81. 664,403 shares of the company traded hands, compared to its average volume of 600,339. The firm’s 50-day moving average is $36.22 and its 200-day moving average is $37.38. The stock has a market cap of $4.36 billion, a P/E ratio of 69.62, a P/E/G ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. As a group, research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PECO. Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Mizuho decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

About Phillips Edison & Company, Inc.

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.