Phillips Edison & Company, Inc. (PECO) To Go Ex-Dividend on May 14th

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.097 per share on Tuesday, June 4th. This represents a $1.16 annualized dividend and a yield of 3.54%. The ex-dividend date is Tuesday, May 14th.

Phillips Edison & Company, Inc. has a payout ratio of 180.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Phillips Edison & Company, Inc. to earn $2.51 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 46.6%.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $32.89 on Friday. The company has a market capitalization of $4.03 billion, a P/E ratio of 71.50, a price-to-earnings-growth ratio of 3.89 and a beta of 0.59. The business has a 50-day moving average of $34.22 and a two-hundred day moving average of $34.94. Phillips Edison & Company, Inc. has a 1 year low of $27.85 and a 1 year high of $37.92.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Compass Point lowered their price objective 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. Mizuho raised shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $35.00 to $37.00 in a research report on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and a consensus price target of $38.14.

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.