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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be paid a dividend of 0.1025 per share on Thursday, May 1st. This represents a $1.23 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Tuesday, April 15th.

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 183.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Up 0.6 %

Shares of NASDAQ PECO opened at $37.24 on Friday. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 74.48, a PEG ratio of 1.76 and a beta of 0.58. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The business’s 50 day moving average is $37.21 and its two-hundred day moving average is $37.25.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PECO shares. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Wednesday, November 13th. Wells Fargo & Company cut their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Mizuho upped their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. 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.com, Phillips Edison & Company, Inc. has an average rating of “Moderate Buy” and an average target price of $39.50.

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.