Phillips Edison & Company, Inc. (PECO) to Issue Monthly Dividend of $0.10 on May 1st

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.1025 per share on Thursday, May 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Tuesday, April 15th.

Phillips Edison & Company, Inc. has increased its dividend by an average of 31.1% per year over the last three years. Phillips Edison & Company, Inc. has a payout ratio of 183.6% 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 analysts expect Phillips Edison & Company, Inc. to earn $2.68 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 45.9%.

Phillips Edison & Company, Inc. Stock Down 1.8 %

NASDAQ:PECO opened at $36.58 on Friday. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The stock has a market capitalization of $4.48 billion, a PE ratio of 73.16, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. The stock’s 50-day moving average price is $37.16 and its 200-day moving average price is $37.27.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PECO has been the topic of a number of analyst reports. Wells Fargo & Company dropped their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Mizuho lifted their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lowered their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.