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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Friday, November 1st, Wall Street Journal reports. Investors of record on Monday, December 16th will be paid a dividend of 0.1025 per share on Friday, January 3rd. This represents a $1.23 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.

Phillips Edison & Company, Inc. has a dividend payout ratio of 201.6% 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 research 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 Performance

Shares of Phillips Edison & Company, Inc. stock traded down $0.01 on Friday, hitting $37.80. The company’s stock had a trading volume of 592,099 shares, compared to its average volume of 664,762. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.08. The firm has a fifty day moving average price of $37.25 and a 200-day moving average price of $34.56. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 83.48, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. During the same quarter last year, the firm posted $0.58 earnings per share. Phillips Edison & Company, Inc.’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PECO. Compass Point boosted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock 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 target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Mizuho boosted their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $37.50.

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.