Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases Earnings Results, Beats Expectations By $0.02 EPS

Phillips Edison & Company, Inc. (NASDAQ:PECO) issued its quarterly earnings data on Monday. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02, Zacks reports. The business had revenue of $193.09 million for the quarter, compared to analysts’ expectations of $190.17 million. Phillips Edison & Company, Inc. had a net margin of 19.14% and a return on equity of 5.52%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share.

Phillips Edison & Company, Inc. Trading Up 0.6%

NASDAQ PECO opened at $38.60 on Tuesday. Phillips Edison & Company, Inc. has a 1 year low of $33.10 and a 1 year high of $44.38. The company has a fifty day simple moving average of $38.24 and a 200 day simple moving average of $39.09. The company has a market cap of $4.97 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.30 and a beta of 0.52.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a $0.1150 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, November 16th. Phillips Edison & Company, Inc.’s payout ratio is presently 120.00%.

Analyst Ratings Changes

PECO has been the topic of several analyst reports. Griffin Securities set a $44.00 target price on shares of Phillips Edison & Company, Inc. in a research report on Monday, September 21st. Morgan Stanley boosted their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. UBS Group reduced their price target on shares of Phillips Edison & Company, Inc. from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Barclays lowered their price objective on shares of Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.20.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc is a real estate investment trust focused on owning, operating and developing grocery-anchored shopping centers in the United States. Its properties are typically located in established communities and are designed to provide consumers with convenient access to essential goods and services.

The company’s portfolio includes neighborhood and community shopping centers anchored by grocery stores, alongside complementary tenants such as restaurants, personal care providers, medical offices and other service-oriented businesses.