Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.37-2.45 for the period, compared to the consensus earnings per share estimate of $2.41. Phillips Edison & Company, Inc. also updated its FY 2024 guidance to 0.490-0.540 EPS.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a buy rating on the stock in a research report on Thursday, May 23rd. 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 research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, May 29th. Finally, Compass Point cut 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 research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $37.43.
Read Our Latest Stock Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Stock Performance
Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) last released 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 company had revenue of $161.52 million during the quarter, compared to analyst estimates of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. Sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.4 earnings per share for the current year.
Phillips Edison & Company, Inc. Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a $0.0975 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Monday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.
About Phillips Edison & Company, Inc.
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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