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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Wednesday, February 12th, NASDAQ Dividends reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.1025 per share on Tuesday, April 1st. This represents a $1.23 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date is Monday, March 17th.

Phillips Edison & Company, Inc. has raised its dividend payment by an average of 31.1% per year over the last three years. Phillips Edison & Company, Inc. has a dividend payout ratio of 180.9% meaning 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 Phillips Edison & Company, Inc. stock opened at $34.81 on Friday. The stock’s fifty day moving average price is $36.22 and its 200-day moving average price is $37.37. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The firm 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.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS 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%. Analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analyst Weigh In

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