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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.097 per share on Wednesday, September 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, August 15th.

Phillips Edison & Company, Inc. has a payout ratio of 174.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Phillips Edison & Company, Inc. to earn $2.54 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 46.1%.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock traded down $0.30 on Friday, reaching $34.97. The stock had a trading volume of 87,903 shares, compared to its average volume of 663,019. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $37.92. The stock has a market cap of $4.28 billion, a P/E ratio of 76.24, a price-to-earnings-growth ratio of 3.34 and a beta of 0.56. The company has a 50 day simple moving average of $32.86 and a 200 day simple moving average of $33.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The firm had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. On average, equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on PECO shares. Compass Point reduced their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, April 29th. Mizuho reduced their price objective on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Wells Fargo & Company lowered their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $37.43.

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.