Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Phillips Edison & Company, Inc. (NASDAQ:PECO) released its quarterly earnings data on Monday. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.20), FiscalAI reports. Phillips Edison & Company, Inc. had a net margin of 19.14% and a return on equity of 5.52%. The company had revenue of $193.09 million during the quarter, compared to the consensus estimate of $190.17 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock 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 market cap of $4.97 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.30 and a beta of 0.52. The stock has a 50 day simple moving average of $38.24 and a 200-day simple moving average of $39.09.

Phillips Edison & Company, Inc. Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PECO. UBS Group dropped 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 report on Friday, October 9th. Weiss Ratings cut Phillips Edison & Company, Inc. from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Morgan Stanley increased their target price on Phillips Edison & Company, Inc. from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, July 10th. JPMorgan Chase & Co. lifted their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Finally, Barclays decreased their price objective on Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, September 28th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.