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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Monday, November 4th, Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.1025 per share on Tuesday, March 4th. This represents a $1.23 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Tuesday, February 18th.

Phillips Edison & Company, Inc. has a dividend 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 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 1.6 %

PECO opened at $38.70 on Wednesday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.08. The business has a 50 day moving average of $37.30 and a 200-day moving average of $34.67. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 84.13, a PEG ratio of 3.47 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. During the same period in the prior year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho increased their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Compass Point boosted their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $37.50.

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.