Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.37-2.45 for the period, compared to the consensus EPS estimate of $2.41. Phillips Edison & Company, Inc. also updated its FY 2024 guidance to 0.490-0.540 EPS.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on PECO. Compass Point reduced their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a neutral rating on the stock in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating on the stock in a report on Wednesday, May 29th. Wells Fargo & Company cut their price objective on shares of Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an underweight rating on the stock in a report on Tuesday, May 28th. Finally, Mizuho cut their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a buy rating on the stock in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of Hold and a consensus target price of $37.43.
Read Our Latest Research Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Stock Performance
Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) last announced its earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The business had revenue of $161.52 million during the quarter, compared to analyst estimates of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.4 earnings per share for the current year.
Phillips Edison & Company, Inc. Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued a $0.0975 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.44%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.
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.
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