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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a dividend on Monday, December 16th,investing.com reports. Investors of record on Tuesday, December 17th will be paid a dividend of 0.1025 per share on Friday, January 3rd. This represents a yield of 3.13%. The ex-dividend date is Monday, December 16th. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10.

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. 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 0.2 %

PECO traded up $0.08 during trading hours on Monday, hitting $39.28. 527,061 shares of the company’s stock were exchanged, compared to its average volume of 671,254. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The stock’s 50-day moving average is $38.23 and its two-hundred day moving average is $36.03. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 85.22, a PEG ratio of 3.60 and a beta of 0.57.

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

Analysts Set New Price Targets

PECO has been the subject of several recent research reports. Compass Point increased their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Mizuho upped their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Moderate Buy” and a consensus target price of $39.00.

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.