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

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Free Report) declared a monthly dividend on Monday, November 13th, Wall Street Journal reports. Investors of record on Thursday, February 15th will be given a dividend of 0.0975 per share on Friday, March 1st. This represents a $1.17 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, February 14th.

Phillips Edison & Company, Inc. has a dividend payout ratio of 208.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Phillips Edison & Company, Inc. to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 46.6%.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $35.31 on Tuesday. The company has a market capitalization of $4.22 billion, a PE ratio of 76.76, a P/E/G ratio of 3.60 and a beta of 0.56. Phillips Edison & Company, Inc. has a 12 month low of $27.85 and a 12 month high of $37.92. The firm’s 50-day moving average is $35.86 and its 200 day moving average is $34.99.

Institutional Trading of Phillips Edison & Company, Inc.

A number of institutional investors have recently modified their holdings of PECO. Vanguard Group Inc. boosted its stake in Phillips Edison & Company, Inc. by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 16,901,198 shares of the company’s stock worth $474,079,000 after purchasing an additional 125,181 shares in the last quarter. Wellington Management Group LLP boosted its stake in Phillips Edison & Company, Inc. by 313.4% in the 1st quarter. Wellington Management Group LLP now owns 7,725,477 shares of the company’s stock worth $265,679,000 after purchasing an additional 5,856,834 shares in the last quarter. BlackRock Inc. boosted its stake in Phillips Edison & Company, Inc. by 443.8% in the 1st quarter. BlackRock Inc. now owns 7,310,113 shares of the company’s stock worth $251,393,000 after purchasing an additional 5,965,943 shares in the last quarter. State Street Corp boosted its stake in Phillips Edison & Company, Inc. by 37.3% in the 2nd quarter. State Street Corp now owns 6,585,842 shares of the company’s stock worth $224,886,000 after purchasing an additional 1,790,307 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Phillips Edison & Company, Inc. by 4.1% in the 1st quarter. Geode Capital Management LLC now owns 2,525,064 shares of the company’s stock worth $82,368,000 after purchasing an additional 99,756 shares in the last quarter. 83.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PECO. Mizuho reduced their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $35.00 and set a “neutral” rating on the stock in a research note on Friday, December 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Phillips Edison & Company, Inc. from $35.00 to $32.00 and set an “underweight” rating on the stock in a report on Monday, November 13th. Finally, BMO Capital Markets increased their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and a consensus target price of $38.00.

Read Our Latest Stock Report on PECO

About Phillips Edison & Company, Inc.

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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.

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Dividend History for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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