Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48), Zacks reports. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $156.29 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Phillips Edison & Company, Inc. updated its FY24 guidance to $2.37-2.45 EPS and its FY 2024 guidance to 0.490-0.540 EPS.
Phillips Edison & Company, Inc. Trading Up 0.5 %
Shares of PECO traded up $0.17 during trading hours on Friday, reaching $34.02. 844,721 shares of the company’s stock traded hands, compared to its average volume of 702,809. The stock has a market cap of $4.16 billion, a PE ratio of 73.96, a price-to-earnings-growth ratio of 3.43 and a beta of 0.56. The firm’s 50 day simple moving average is $32.59 and its 200-day simple moving average is $33.84. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $37.92.
Phillips Edison & Company, Inc. Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be given a dividend of $0.0975 per share. The ex-dividend date is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.44%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.
Analysts Set New Price Targets
Read Our Latest Analysis on PECO
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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