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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Friday, November 1st, Wall Street Journal reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.1025 per share on Friday, January 3rd. This represents a $1.23 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.

Phillips Edison & Company, Inc. has a dividend payout ratio of 208.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Down 0.0 %

NASDAQ:PECO opened at $37.80 on Friday. The company has a fifty day simple moving average of $37.27 and a two-hundred day simple moving average of $34.61. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 82.17, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). The business had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. On average, analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PECO. Compass Point lifted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Mizuho lifted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $37.50.

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.