Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases FY24 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.37-2.45 for the period, compared to the consensus estimate of $2.41. Phillips Edison & Company, Inc. also updated its FY 2024 guidance to 0.490-0.540 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Compass Point cut their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a neutral rating on the stock in a research report on Monday, April 29th. Wells Fargo & Company cut their price objective on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an underweight rating on the stock in a research report on Tuesday, May 28th. Mizuho dropped their price target on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $37.43.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ PECO traded down $0.19 during mid-day trading on Thursday, hitting $33.85. 1,060,485 shares of the stock traded hands, compared to its average volume of 656,355. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $37.92. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 73.59, a PEG ratio of 3.55 and a beta of 0.56. The stock has a fifty day moving average price of $32.56 and a 200-day moving average price of $33.85.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be issued a $0.0975 dividend. This represents a $1.17 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Monday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 254.35%.

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.