Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) posted its earnings results on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52), Zacks reports. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The company had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the prior year, the company posted $0.58 EPS. Phillips Edison & Company, Inc.’s revenue was up 8.5% on a year-over-year basis. Phillips Edison & Company, Inc. updated its FY24 guidance to $2.40-$2.44 EPS and its FY 2024 guidance to 0.480-0.500 EPS.
Phillips Edison & Company, Inc. Stock Performance
PECO traded down $0.70 during midday trading on Friday, reaching $36.31. The company had a trading volume of 629,406 shares, compared to its average volume of 662,030. The business has a 50-day moving average price of $37.10 and a two-hundred day moving average price of $34.45. The stock has a market cap of $4.44 billion, a PE ratio of 78.93, a P/E/G ratio of 3.49 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.08.
Phillips Edison & Company, Inc. Increases Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.1025 dividend. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 annualized dividend and a yield of 3.39%. The ex-dividend date is Tuesday, October 15th. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on PECO
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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