Phillips Edison & Company, Inc. (PECO) To Go Ex-Dividend on December 16th

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Wednesday, October 30th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.1025 per share on Friday, January 3rd. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Monday, December 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 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. Equities 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 NASDAQ PECO opened at $39.20 on Friday. The company’s 50 day moving average price is $38.23 and its 200-day moving average price is $35.96. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The company has a market capitalization of $4.81 billion, a P/E ratio of 85.22, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, October 24th. The company reported $0.09 EPS 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 business had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

PECO has been the subject of several recent analyst reports. Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday. Compass Point boosted their price objective 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. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $39.14.

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.