Phillips Edison & Company, Inc. (NASDAQ:PECO) Posts Quarterly Earnings Results, Beats Estimates By $0.50 EPS

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced its earnings results on Thursday. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.50, Zacks reports. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO traded down $0.25 during trading hours on Thursday, hitting $36.61. 602,279 shares of the stock were exchanged, compared to its average volume of 563,007. 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 $4.49 billion, a price-to-earnings ratio of 79.59, a price-to-earnings-growth ratio of 3.17 and a beta of 0.58. The stock’s 50-day moving average price is $37.49 and its two-hundred day moving average price is $37.16.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were given a dividend of $0.1025 per share. This represents a dividend yield of 3.13%. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date was Monday, December 16th. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Mizuho upped their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Wolfe Research raised 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 research note on Wednesday, November 13th. Wells Fargo & Company reduced their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.