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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.097 per share on Wednesday, September 4th. This represents a $1.16 annualized dividend and a yield of 3.33%. The ex-dividend date is Thursday, August 15th.

Phillips Edison & Company, Inc. has a dividend payout ratio of 174.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Phillips Edison & Company, Inc. to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 46.1%.

Phillips Edison & Company, Inc. Stock Down 0.9 %

Shares of NASDAQ:PECO traded down $0.30 during trading on Friday, hitting $34.97. The stock had a trading volume of 87,903 shares, compared to its average volume of 663,019. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $37.92. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 76.24, a price-to-earnings-growth ratio of 3.34 and a beta of 0.56. The stock has a 50-day simple moving average of $32.86 and a two-hundred day simple moving average of $33.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The business had revenue of $161.52 million during the quarter, compared to analyst estimates of $156.29 million. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 EPS. As a group, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Wall Street Analyst Weigh In

PECO has been the topic of a number of recent research reports. Compass Point lowered 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Wells Fargo & Company lowered their target price on shares of Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 28th. Finally, Mizuho reduced their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $37.43.

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.