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

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) announced a monthly dividend on Tuesday, November 5th, Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid 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 3.18%. The ex-dividend date is Tuesday, February 18th.

Phillips Edison & Company, Inc. has a dividend 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. Equities research 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. Stock Performance

NASDAQ PECO traded up $0.62 during trading hours on Tuesday, reaching $38.70. The stock had a trading volume of 714,208 shares, compared to its average volume of 664,309. The stock has a fifty day moving average of $37.30 and a 200 day moving average of $34.67. The stock has a market cap of $4.74 billion, a P/E ratio of 83.91, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The company had revenue of $165.50 million during the quarter, compared to analysts' expectations of $157.20 million. During the same quarter in the prior year, the company posted $0.58 EPS. The company's revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho lifted their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. Finally, Compass Point lifted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.