Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) 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.
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.
Check Out Our Latest Stock Analysis on Phillips Edison & Company, Inc.
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.
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