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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.097 per share on Tuesday, June 4th. This represents a $1.16 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, May 14th.

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. 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

NASDAQ PECO traded up $0.46 during trading on Thursday, hitting $33.13. 24,519 shares of the company’s stock traded hands, compared to its average volume of 617,250. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 71.02, 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. The business has a 50 day moving average of $34.52 and a 200-day moving average of $35.02.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PECO. JPMorgan Chase & Co. lowered their price target on shares of 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. Mizuho raised shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $35.00 to $37.00 in a report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of 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. Finally, Compass Point lowered their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the 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.