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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.097 per share on Wednesday, September 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Thursday, August 15th.

Phillips Edison & Company, Inc. has a dividend 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. Equities 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 Down 0.4 %

PECO traded down $0.14 during trading hours on Friday, hitting $35.13. The stock had a trading volume of 38,522 shares, compared to its average volume of 662,685. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $37.92. The company’s fifty day simple moving average is $32.86 and its 200 day simple moving average is $33.83. The stock has a market cap of $4.30 billion, a PE ratio of 76.48, a price-to-earnings-growth ratio of 3.34 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.48). The business 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 business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. As a group, equities analysts expect that Phillips Edison & Company, Inc. will post 2.41 EPS for the current year.

Analyst Ratings Changes

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

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.