Phillips Edison & Company, Inc. Declares Monthly Dividend of $0.10 (NASDAQ:PECO)

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.1025 per share on Thursday, May 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Tuesday, April 15th.

Phillips Edison & Company, Inc. has increased its dividend by an average of 31.1% per year over the last three years. Phillips Edison & Company, Inc. has a dividend payout ratio of 183.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Phillips Edison & Company, Inc. to earn $2.68 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 45.9%.

Phillips Edison & Company, Inc. Trading Up 0.6 %

Shares of PECO stock traded up $0.22 on Thursday, reaching $37.24. 690,139 shares of the company’s stock were exchanged, compared to its average volume of 581,556. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The stock has a market capitalization of $4.57 billion, a PE ratio of 74.48, a P/E/G ratio of 1.76 and a beta of 0.58. The company’s fifty day simple moving average is $37.25 and its 200 day simple moving average is $37.25.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. As a group, sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Mizuho lifted their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

About Phillips Edison & Company, Inc.

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.