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

Phillips Edison & Company, Inc. (NASDAQ:PECO) released its quarterly earnings results on Thursday. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates 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

PECO stock traded down $0.25 during mid-day trading on Thursday, reaching $36.61. The company had a trading volume of 602,279 shares, compared to its average volume of 563,007. The company has a market capitalization 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 firm has a fifty day simple moving average of $37.49 and a 200 day simple moving average of $37.16. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a $0.1025 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a yield of 3.13%. This is a positive change from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

Wall Street Analysts Forecast Growth

PECO has been the topic of several research reports. Mizuho increased 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. Wells Fargo & Company decreased their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.