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

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) announced a monthly dividend on Monday, November 4th, Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.1025 per share on Tuesday, March 4th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, February 18th.

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. 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 traded up $0.28 during trading hours on Monday, hitting $38.08. The company had a trading volume of 477,614 shares, compared to its average volume of 664,186. The firm has a 50-day moving average of $37.30 and a 200 day moving average of $34.67. The firm has a market cap of $4.67 billion, a PE ratio of 82.78, a PEG ratio of 3.47 and a beta of 0.57. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.52). The firm had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. Phillips Edison & Company, Inc.'s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. As a group, research analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Mizuho raised their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Compass Point boosted their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a research note on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $37.50.

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.