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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, February 12th, NASDAQ Dividends reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.1025 per share on Tuesday, April 1st. This represents a $1.23 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Monday, March 17th.

Phillips Edison & Company, Inc. has increased its dividend payment by an average of 31.1% per year over the last three years. Phillips Edison & Company, Inc. has a dividend payout ratio of 180.9% 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 $2.68 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

NASDAQ:PECO opened at $34.81 on Friday. The stock has a 50-day simple moving average of $36.22 and a 200-day simple moving average of $37.37. The stock has a market cap of $4.36 billion, a P/E ratio of 69.62, a P/E/G ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released 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 return on equity of 2.40% and a net margin of 9.48%. On average, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Mizuho decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

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.