Phillips Edison & Company, Inc. (NASDAQ:PECO – Get 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.
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.
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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