Phillips Edison & Company, Inc. (NASDAQ:PECO) Sets New 1-Year High After Dividend Announcement

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $39.50 and last traded at $39.40, with a volume of 26360 shares traded. The stock had previously closed at $38.70.

The newly announced dividend which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio is 267.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Compass Point raised their price objective on 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. Finally, Mizuho upped their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Price Performance

The firm’s 50 day moving average price is $37.30 and its 200-day moving average price is $34.67. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 84.13, a P/E/G ratio of 3.47 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The company had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. Analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

Several large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth approximately $28,000. 1620 Investment Advisors Inc. acquired a new stake in Phillips Edison & Company, Inc. during the second quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in Phillips Edison & Company, Inc. during the second quarter worth $39,000. PFG Private Wealth Management LLC bought a new stake in Phillips Edison & Company, Inc. in the 2nd quarter valued at $62,000. Finally, Blue Trust Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 160.2% in the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after buying an additional 1,290 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

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.