Phillips Edison & Company, Inc. (NASDAQ:PECO) Declares Dividend Increase – $0.10 Per Share

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a dividend on Monday, December 16th,investing.com reports. Stockholders of record on Tuesday, December 17th will be given a dividend of 0.1025 per share on Friday, January 3rd. This represents a dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10.

Phillips Edison & Company, Inc. has a payout ratio of 208.5% 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 $2.55 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 48.2%.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock opened at $39.28 on Tuesday. The stock has a market capitalization of $4.82 billion, a PE ratio of 85.39, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The firm has a 50 day simple moving average of $38.29 and a 200-day simple moving average of $36.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The company had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 EPS. On average, analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Mizuho increased their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Wednesday, November 13th. Finally, Compass Point upped their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Moderate Buy” and an average price target of $39.00.

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.