Phillips Edison & Company, Inc. (PECO) to Issue Monthly Dividend of $0.10 on October 1st

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Tuesday, September 3rd, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.102 per share on Tuesday, October 1st. This represents a $1.22 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Monday, September 16th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.

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. Research analysts expect Phillips Edison & Company, Inc. to earn $2.54 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 46.1%.

Phillips Edison & Company, Inc. Stock Up 1.5 %

NASDAQ PECO opened at $38.93 on Friday. The company has a market capitalization of $4.77 billion, a PE ratio of 84.63, a price-to-earnings-growth ratio of 3.55 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.00. The firm’s 50 day moving average is $35.39 and its 200-day moving average is $34.06.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The firm had revenue of $161.52 million for 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%. Phillips Edison & Company, Inc.’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. As a group, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.41 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on PECO. Compass Point upped their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft decreased 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 report on Wednesday, May 29th. Mizuho upped their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and a consensus price target of $37.50.

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.