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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Tuesday, April 15th will be given a dividend of 0.1025 per share on Thursday, May 1st. This represents a $1.23 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Tuesday, April 15th.

Phillips Edison & Company, Inc. has increased its dividend by an average of 31.1% per year over the last three years. Phillips Edison & Company, Inc. has a payout ratio of 183.6% meaning 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 $2.68 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 45.9%.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO traded up $0.22 during trading on Thursday, hitting $37.24. 690,139 shares of the company’s stock were exchanged, compared to its average volume of 581,556. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The business’s 50-day simple moving average is $37.25 and its 200 day simple moving average is $37.25. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 74.48, a PEG ratio of 1.76 and a beta of 0.58.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

PECO has been the subject of several research analyst reports. Wells Fargo & Company cut 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 report on Wednesday, January 29th. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Wednesday, November 13th. Mizuho raised their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.