Phillips Edison & Company, Inc. (NASDAQ:PECO) Increases Dividend to $0.10 Per Share

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, October 30th,Wall Street Journal reports. Investors of record on Monday, December 16th will be paid a dividend of 0.1025 per share on Friday, January 3rd. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Monday, December 16th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.

Phillips Edison & Company, Inc. has a dividend 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 research 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 Performance

NASDAQ:PECO opened at $39.20 on Friday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The stock has a fifty day simple moving average of $38.23 and a 200-day simple moving average of $35.96. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 85.22, a price-to-earnings-growth ratio of 3.58 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 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 company had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same period in the prior year, the firm posted $0.58 EPS. The business’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PECO shares. Compass Point upped their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Mizuho raised their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.14.

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.