Phillips Edison & Company, Inc. (NASDAQ:PECO) Announces Dividend Increase - $0.10 Per Share

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) announced a dividend on Monday, December 16th,investing.com reports. Shareholders of record on Tuesday, December 17th will be given a dividend of 0.1025 per share on Friday, January 3rd. This represents a yield of 3.13%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Phillips Edison & Company, Inc.'s previous dividend of $0.10.

Phillips Edison & Company, Inc. has a dividend payout ratio of 208.5% 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 $2.55 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 Up 0.2 %

NASDAQ PECO traded up $0.08 during midday trading on Monday, hitting $39.28. The company had a trading volume of 527,061 shares, compared to its average volume of 671,254. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 85.22, a P/E/G ratio of 3.60 and a beta of 0.57. The firm has a fifty day simple moving average of $38.23 and a two-hundred day simple moving average of $36.03. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PECO. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho lifted their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Compass Point lifted their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Tuesday, September 10th. Finally, Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. presently has a consensus rating of "Moderate Buy" and an average price target of $39.00.

Phillips Edison & Company, Inc. Company Profile

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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