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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Friday, February 14th,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 3.36%. The ex-dividend date of this dividend 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. Stock Performance

PECO stock opened at $36.58 on Friday. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12. The firm has a fifty day moving average price of $37.16 and a 200 day moving average price of $37.28. The firm has a market cap of $4.48 billion, a PE ratio of 73.16, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Analysts Set New Price Targets

PECO has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Wednesday, November 13th. Wells Fargo & Company dropped their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Mizuho lifted their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Moderate Buy” and an average 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.