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

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Free Report) declared a monthly dividend on Wednesday, October 30th, Zacks reports. Shareholders 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 dividend on an annualized basis 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 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 1.5 %

Shares of PECO stock traded up $0.57 on Friday, reaching $38.38. 27,335 shares of the stock were exchanged, compared to its average volume of 662,098. The stock has a market cap of $4.70 billion, a P/E ratio of 82.20, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. The firm has a 50 day moving average of $37.25 and a two-hundred day moving average of $34.56. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The firm 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 revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 earnings per share. On average, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

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

View Our Latest Analysis on Phillips Edison & Company, Inc.

About Phillips Edison & Company, Inc.

(Get Free Report)

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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Dividend History for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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