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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, February 12th, NASDAQ Dividends reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.1025 per share on Tuesday, April 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, March 17th.

Phillips Edison & Company, Inc. has increased its dividend by an average of 31.1% annually over the last three years. Phillips Edison & Company, Inc. has a payout ratio of 180.9% 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 Up 1.1 %

Shares of PECO opened at $34.81 on Friday. The stock has a market cap of $4.36 billion, a PE ratio of 69.62, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The firm’s fifty day moving average is $36.22 and its two-hundred day moving average is $37.37.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (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%. As a group, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Mizuho cut their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

About Phillips Edison & Company, Inc.

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.