Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases Earnings Results, Beats Estimates By $0.50 EPS

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced its quarterly earnings data on Thursday. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.50, Zacks reports. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%.

Phillips Edison & Company, Inc. Stock Up 1.9 %

Shares of NASDAQ:PECO opened at $37.32 on Friday. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 74.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. The company has a 50 day moving average of $37.38 and a two-hundred day moving average of $37.17.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.1025 per share. This represents a dividend yield of 3.13%. The ex-dividend date was Monday, December 16th. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is currently 246.00%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PECO. Wells Fargo & Company reduced their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Mizuho lifted their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

About Phillips Edison & Company, Inc.

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.