Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) declared a dividend on Monday, December 16th,investing.com reports. Investors of record on Tuesday, December 17th will be given a dividend of 0.1025 per share on Friday, January 3rd. This represents a yield of 3.13%. The ex-dividend date is Monday, December 16th. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10.
Phillips Edison & Company, Inc. has a dividend 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. Research 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. Price Performance
NASDAQ PECO opened at $38.96 on Wednesday. The company has a 50-day moving average of $38.35 and a 200-day moving average of $36.13. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The company has a market cap of $4.78 billion, a P/E ratio of 84.70, a P/E/G ratio of 3.60 and a beta of 0.57.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on PECO. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a report on Wednesday, November 13th. Mizuho raised their price objective on 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. Compass Point upped their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.00.
Get Our Latest Report on Phillips Edison & Company, Inc.
About Phillips Edison & Company, Inc.
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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