Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) issued its earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52), Zacks reports. The firm had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. Phillips Edison & Company, Inc.’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 earnings per share. Phillips Edison & Company, Inc. updated its FY24 guidance to $2.40-$2.44 EPS and its FY 2024 guidance to 0.480-0.500 EPS.
Phillips Edison & Company, Inc. Stock Down 1.9 %
Shares of NASDAQ:PECO traded down $0.70 during midday trading on Friday, hitting $36.31. The stock had a trading volume of 629,406 shares, compared to its average volume of 662,030. The company’s 50-day moving average price is $37.10 and its 200-day moving average price is $34.45. The company has a market capitalization of $4.44 billion, a P/E ratio of 78.93, a price-to-earnings-growth ratio of 3.49 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 $39.08.
Phillips Edison & Company, Inc. Increases Dividend
The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.39%. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.
Analyst Upgrades and Downgrades
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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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