Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) declared a monthly dividend on Tuesday, September 3rd, Zacks reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.102 per share on Tuesday, October 1st. This represents a $1.22 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.
Phillips Edison & Company, Inc. has a payout ratio of 180.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Phillips Edison & Company, Inc. to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 46.1%.
Phillips Edison & Company, Inc. Trading Up 0.1 %
Shares of NASDAQ:PECO traded up $0.05 during midday trading on Thursday, hitting $37.13. The stock had a trading volume of 46,737 shares, compared to its average volume of 661,566. The company has a market capitalization of $4.55 billion, a PE ratio of 81.35, a P/E/G ratio of 3.51 and a beta of 0.57. The stock has a 50 day moving average price of $34.68 and a two-hundred day moving average price of $33.90. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $37.92.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.33.
Check Out Our Latest Report on PECO
About Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.
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