Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases FY 2024 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.490-0.540 for the period, compared to the consensus estimate of 0.540. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY24 guidance to $2.37-2.45 EPS.

Phillips Edison & Company, Inc. Stock Up 0.5 %

PECO stock traded up $0.17 during mid-day trading on Friday, reaching $34.02. 831,121 shares of the company traded hands, compared to its average volume of 658,050. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 73.96, a P/E/G ratio of 3.45 and a beta of 0.56. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $37.92. The firm’s 50 day moving average price is $32.59 and its 200 day moving average price is $33.84.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be paid a dividend of $0.0975 per share. The ex-dividend date is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 3.44%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 254.35%.

Wall Street Analysts Forecast Growth

PECO has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, May 29th. Compass Point dropped their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a neutral rating on the stock in a research report on Monday, April 29th. Wells Fargo & Company dropped 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 report on Tuesday, May 28th. Finally, Mizuho dropped their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $37.43.

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.