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

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 given 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. Research 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. Stock Performance

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

Analyst Ratings Changes

Several brokerages have recently commented on PECO. Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.00 to $37.00 in a research note on Friday, February 23rd. JPMorgan Chase & Co. decreased their price target on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price target on the stock. Finally, Compass Point cut their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.