Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases FY24 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.37-2.45 for the period, compared to the consensus EPS estimate of $2.41.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Compass Point reduced their target price on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a neutral rating on the stock in a research note on Monday, April 29th. Wells Fargo & Company lowered their price objective on shares of Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an underweight rating for the company in a research report on Tuesday, May 28th. Mizuho lowered their price target on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a buy rating for the company in a report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating for the company in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of Hold and a consensus price target of $37.43.

Phillips Edison & Company, Inc. Stock Performance

PECO traded down $0.19 on Thursday, hitting $33.85. The company had a trading volume of 1,060,485 shares, compared to its average volume of 656,355. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 74.00, a P/E/G ratio of 3.55 and a beta of 0.56. The stock has a fifty day moving average price of $32.54 and a 200-day moving average price of $33.85. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $37.92.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a dividend of $0.0975 per share. The ex-dividend date is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 3.46%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

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.