Phillips Edison & Company, Inc. (PECO) to Issue Monthly Dividend of $0.10 on March 4th

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Wednesday, October 30th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given 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 3.36%. The ex-dividend date is Tuesday, February 18th.

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 research 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 %

Shares of Phillips Edison & Company, Inc. stock 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 company’s 50-day simple moving average is $37.16 and its 200-day simple moving average is $37.28. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 73.16, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58.

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

Analysts Set New Price Targets

PECO has been the topic of a number of research analyst reports. Wolfe Research raised shares of 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. Wells Fargo & Company reduced their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Mizuho upped their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.50.

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.