Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) announced a monthly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Monday, June 17th will be given a dividend of 0.0975 per share on Tuesday, July 2nd. This represents a $1.17 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, June 17th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.
Phillips Edison & Company, Inc. has a payout ratio of 195.0% meaning 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 $2.52 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 46.4%.
Phillips Edison & Company, Inc. Price Performance
NASDAQ:PECO traded up $0.40 during mid-day trading on Thursday, reaching $33.07. 534,568 shares of the company’s stock traded hands, compared to its average volume of 620,378. The company has a 50 day moving average price of $34.48 and a 200-day moving average price of $35.00. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 72.39, a PEG ratio of 3.87 and a beta of 0.59. Phillips Edison & Company, Inc. has a 12-month low of $27.85 and a 12-month high of $37.92.
Analyst Upgrades and Downgrades
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About Phillips Edison & Company, Inc.
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.
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