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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Friday, May 3rd, Wall Street Journal reports. Shareholders of record on Monday, July 15th will be given a dividend of 0.0975 per share on Thursday, August 1st. This represents a $1.17 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, July 15th.

Phillips Edison & Company, Inc. has a payout ratio of 195.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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. Stock Performance

Phillips Edison & Company, Inc. stock traded up $0.01 during midday trading on Friday, reaching $33.08. The stock had a trading volume of 689,042 shares, compared to its average volume of 624,156. Phillips Edison & Company, Inc. has a twelve month low of $27.85 and a twelve month high of $37.92. The stock has a market capitalization of $4.04 billion, a PE ratio of 71.91, a price-to-earnings-growth ratio of 3.86 and a beta of 0.59. The stock’s 50-day simple moving average is $34.45 and its 200 day simple moving average is $34.99.

Analysts Set New Price Targets

PECO has been the topic of several recent analyst reports. Mizuho raised shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.00 to $37.00 in a report on Friday, February 23rd. Compass Point reduced their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.14.

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.