Phillips Edison & Company, Inc. (PECO) to Issue Monthly Dividend of $0.10 on December 3rd

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.102 per share on Tuesday, December 3rd. This represents a $1.22 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, November 15th.

Phillips Edison & Company, Inc. has a payout ratio of 208.5% meaning 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. Stock Down 1.0 %

Phillips Edison & Company, Inc. stock opened at $39.03 on Wednesday. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 84.85, a price-to-earnings-growth ratio of 3.62 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.83. The business’s 50-day moving average price is $37.56 and its 200 day moving average price is $34.92.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued 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). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Wall Street Analyst Weigh In

PECO has been the topic of several research analyst reports. Mizuho raised their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Wednesday. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Compass Point raised their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.43.

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.