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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.1025 per share on Thursday, May 1st. This represents a $1.23 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Tuesday, April 15th.

Phillips Edison & Company, Inc. has increased its dividend payment by an average of 31.1% annually over the last three years. Phillips Edison & Company, Inc. has a payout ratio of 183.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Phillips Edison & Company, Inc. to earn $2.68 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 45.9%.

Phillips Edison & Company, Inc. Trading Up 0.6 %

NASDAQ:PECO opened at $37.24 on Friday. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The stock has a 50 day moving average of $37.21 and a two-hundred day moving average of $37.25. The firm has a market cap of $4.57 billion, a P/E ratio of 74.48, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. On average, research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on PECO. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lowered their target price on 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. Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, Mizuho upped their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of “Moderate Buy” and an average target price 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.