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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Friday, May 3rd, Wall Street Journal reports. Shareholders of record on Monday, July 15th will be paid a dividend of 0.0975 per share on Thursday, August 1st. This represents a $1.17 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, July 15th.

Phillips Edison & Company, Inc. has a payout ratio of 195.0% 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 $2.52 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 46.4%.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO opened at $33.08 on Friday. The stock has a market capitalization of $4.04 billion, a P/E ratio of 71.91, a PEG ratio of 3.91 and a beta of 0.59. Phillips Edison & Company, Inc. has a one year low of $27.85 and a one year high of $37.92. The firm’s 50 day simple moving average is $34.42 and its two-hundred day simple moving average is $34.98.

Wall Street Analysts Forecast Growth

PECO has been the subject of a number of analyst reports. Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and increased their price objective for the company from $35.00 to $37.00 in a research note on Friday, February 23rd. JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Compass Point dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They set a “buy” rating and a $41.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.