Phillips Edison & Company, Inc. (NASDAQ:PECO) Announces Quarterly Earnings Results, Beats Estimates 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 (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02, Zacks reports. The firm had revenue of $193.09 million during the quarter, compared to analysts’ expectations of $190.17 million. Phillips Edison & Company, Inc. had a return on equity of 5.52% and a net margin of 19.14%. Phillips Edison & Company, Inc.’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.65 earnings per share.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO traded up $0.24 during trading hours on Monday, reaching $38.60. 1,428,384 shares of the company traded hands, compared to its average volume of 980,952. The firm’s 50-day moving average is $38.25 and its 200-day moving average is $39.91. The stock 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. has a 1-year low of $33.10 and a 1-year high of $44.38.

Phillips Edison & Company, Inc. Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PECO shares. Barclays dropped their price target on Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. Wells Fargo & Company decreased their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. UBS Group lowered their price objective on shares of Phillips Edison & Company, Inc. from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Finally, Evercore restated an “outperform” rating on shares of Phillips Edison & Company, Inc. in a report on Monday, September 21st. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.