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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Friday, November 1st, Wall Street Journal reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.1025 per share on Friday, January 3rd. This represents a $1.23 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Monday, December 16th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.

Phillips Edison & Company, Inc. has a payout ratio of 201.6% indicating that 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 $2.55 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 48.2%.

Phillips Edison & Company, Inc. Trading Down 0.0 %

Shares of NASDAQ PECO traded down $0.01 during midday trading on Friday, hitting $37.80. The company’s stock had a trading volume of 592,099 shares, compared to its average volume of 664,762. The business’s 50 day moving average is $37.25 and its two-hundred day moving average is $34.56. The firm has a market cap of $4.63 billion, a P/E ratio of 83.48, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

PECO has been the topic of several research reports. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho raised their price objective on 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, Compass Point lifted their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.50.

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.