Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases FY24 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.40-2.44 for the period, compared to the consensus estimate of $2.40. Phillips Edison & Company, Inc. also updated its FY 2024 guidance to 0.480-0.500 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PECO shares. 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 note on Tuesday, September 10th. Mizuho lifted their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Wolfe Research raised 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Phillips Edison & Company, Inc. Stock Up 1.5 %

Phillips Edison & Company, Inc. stock opened at $38.10 on Friday. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The company’s fifty day simple moving average is $38.46 and its 200-day simple moving average is $36.20. The stock has a market cap of $4.67 billion, a P/E ratio of 82.83, a P/E/G ratio of 3.60 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its 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 firm had revenue of $165.50 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 EPS. On average, equities research analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a dividend yield of 3.13%. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

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.