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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Monday, November 4th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.1025 per share on Tuesday, March 4th. This represents a $1.23 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, February 18th.

Phillips Edison & Company, Inc. has raised its dividend payment by an average of 31.1% annually over the last three years. Phillips Edison & Company, Inc. has a 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. 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. Trading Down 1.8 %

PECO stock opened at $36.58 on Friday. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 73.16, a PEG ratio of 1.76 and a beta of 0.58. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The firm has a 50-day moving average of $37.16 and a two-hundred day moving average of $37.28.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. As a group, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PECO. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company cut their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Mizuho lifted their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Phillips Edison & Company, Inc. Company Profile

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.