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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Tuesday, November 5th, Wall Street Journal reports. Investors of record on Tuesday, February 18th will be paid 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 3.12%. The ex-dividend date of this dividend is Tuesday, February 18th.

Phillips Edison & Company, Inc. has a 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. 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 Performance

PECO stock opened at $39.40 on Wednesday. The stock’s 50 day moving average price is $37.30 and its 200 day moving average price is $34.67. The firm has a market cap of $4.83 billion, a P/E ratio of 84.13, a PEG ratio of 3.47 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.50.

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

Wall Street Analysts Forecast Growth

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

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.