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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a dividend on Sunday, March 16th, investing.com reports. Stockholders of record on Tuesday, March 18th will be paid a dividend of 0.1025 per share on Tuesday, April 1st. This represents a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, March 17th.

Phillips Edison & Company, Inc. has increased its dividend by an average of 31.1% per year over the last three years. Phillips Edison & Company, Inc. has a payout ratio of 180.9% 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 $2.68 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 45.9%.

Phillips Edison & Company, Inc. Trading Up 1.1 %

Shares of NASDAQ PECO opened at $34.81 on Monday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The company has a market cap of $4.36 billion, a P/E ratio of 69.62, a P/E/G ratio of 1.70 and a beta of 0.57. The stock has a fifty day moving average price of $36.22 and a 200 day moving average price of $37.38.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho dropped their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

About Phillips Edison & Company, Inc.

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.