Phillips Edison & Company, Inc. (NASDAQ:PECO) Raises Dividend to $0.10 Per Share

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a dividend on Monday, December 16th,investing.com reports. Stockholders of record on Tuesday, December 17th will be given a dividend of 0.1025 per share on Friday, January 3rd. This represents a dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Phillips Edison & Company, Inc.’s previous dividend of $0.10.

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 Up 0.2 %

PECO stock opened at $39.28 on Tuesday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 85.39, a PEG ratio of 3.60 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The company’s fifty day simple moving average is $38.29 and its 200 day simple moving average is $36.08.

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). The firm had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. Research analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Analysts Set New Price Targets

PECO has been the topic of several recent research reports. Mizuho raised their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point boosted their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Moderate Buy” and an average target price of $39.00.

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.