Phillips Edison & Company, Inc. (PECO) to Issue Monthly Dividend of $0.10 on October 1st

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Tuesday, September 3rd, Wall Street Journal reports. Stockholders of record on Monday, September 16th will be paid a dividend of 0.1025 per share on Tuesday, October 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.16%. 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 dividend 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. Research 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. Stock Performance

PECO traded up $0.58 on Friday, reaching $38.93. The company had a trading volume of 702,371 shares, compared to its average volume of 665,147. The company’s fifty day moving average is $35.39 and its 200 day moving average is $34.05. The stock has a market cap of $4.77 billion, a P/E ratio of 84.63, a P/E/G ratio of 3.55 and a beta of 0.57. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.00.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The business had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. On average, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.41 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on PECO. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho raised their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price 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. Finally, Compass Point raised their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $37.50.

Phillips Edison & Company, Inc. Company Profile

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.