Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Will Pay Monthly Dividend of $0.12

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Tuesday, November 10th. Shareholders of record on Tuesday, February 16th will be given a dividend of $0.1150 per share on Tuesday, March 2nd. This represents a $1.38 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, February 16th.

Phillips Edison & Company, Inc. has increased its dividend payment by an average of 0.7% annually over the last three years and has raised its dividend every year for the last 1 years. Phillips Edison & Company, Inc. has a dividend payout ratio of 194.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Phillips Edison & Company, Inc. to earn $2.92 per share next year, which means the company should continue to be able to cover its $1.38 annual dividend with an expected future payout ratio of 47.3%.

Phillips Edison & Company, Inc. Trading Down 0.9%

Phillips Edison & Company, Inc. stock traded down $0.39 on Wednesday, hitting $40.81. 58,237 shares of the stock traded hands, compared to its average volume of 985,020. Phillips Edison & Company, Inc. has a 1 year low of $34.22 and a 1 year high of $44.38. The firm has a market cap of $5.27 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 2.44 and a beta of 0.54. The business’s fifty day simple moving average is $38.30 and its 200 day simple moving average is $39.33.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Monday, October 26th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.20). The business had revenue of $193.09 million during the quarter, compared to analysts’ expectations of $190.17 million. Phillips Edison & Company, Inc. had a return on equity of 6.90% and a net margin of 23.87%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.78 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PECO shares. Evercore restated an “outperform” rating on shares of Phillips Edison & Company, Inc. in a report on Monday, September 21st. Wells Fargo & Company cut their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, October 23rd. UBS Group reduced their price objective on Phillips Edison & Company, Inc. from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, October 9th. JPMorgan Chase & Co. boosted their target price on Phillips Edison & Company, Inc. from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Finally, Weiss Ratings cut Phillips Edison & Company, Inc. from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.90.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc. is a real estate investment trust (REIT) that owns and operates grocery-anchored shopping centers. Its properties are designed to serve local communities, with grocery stores alongside retailers and service providers that meet everyday needs. The company’s activities include leasing and managing its centers, as well as acquiring and improving properties. Its portfolio spans markets across the United States. Founded in 1991, Phillips Edison is headquartered in Cincinnati, Ohio.