Phillips Edison & Company, Inc. (NASDAQ:PECO) Reaches New 1-Year High After Dividend Announcement

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) hit a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $39.50 and last traded at $39.40, with a volume of 26360 shares. The stock had previously closed at $38.70.

The newly announced dividend which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 267.39%.

Analysts Set New Price Targets

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

Phillips Edison & Company, Inc. Stock Up 1.0 %

The stock has a market cap of $4.79 billion, a P/E ratio of 84.48, a P/E/G ratio of 3.50 and a beta of 0.57. The company's 50 day moving average price is $37.34 and its 200-day moving average price is $34.71.

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 (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 for the quarter, compared to the consensus estimate of $157.20 million. During the same period in the prior year, the business earned $0.58 earnings per share. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Institutional Trading of Phillips Edison & Company, Inc.

Institutional investors have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions Corp. bought a new position in Phillips Edison & Company, Inc. during the 1st quarter worth approximately $607,000. Harbor Capital Advisors Inc. boosted its position in Phillips Edison & Company, Inc. by 67.1% during the second quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company's stock valued at $2,541,000 after acquiring an additional 31,189 shares during the last quarter. Cetera Investment Advisers grew its holdings in Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company's stock worth $41,971,000 after acquiring an additional 826,891 shares during the period. Diversify Wealth Management LLC bought a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth about $2,944,000. Finally, UniSuper Management Pty Ltd lifted its stake in shares of Phillips Edison & Company, Inc. by 86.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 62,216 shares of the company's stock valued at $2,232,000 after purchasing an additional 28,816 shares during the period. 80.70% of the stock is currently owned by institutional investors.

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.