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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.102 per share on Tuesday, December 3rd. This represents a $1.22 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, November 15th.

Phillips Edison & Company, Inc. has a payout ratio of 201.6% 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 Performance

Shares of NASDAQ PECO opened at $38.32 on Friday. The company has a 50 day simple moving average of $37.25 and a two-hundred day simple moving average of $34.56. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 82.20, a P/E/G ratio of 3.47 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). The company had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 EPS. On average, analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.