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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Wednesday, October 30th,Wall Street Journal reports. Shareholders 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 yield of 3.36%. The ex-dividend date is Tuesday, February 18th.

Phillips Edison & Company, Inc. has increased its dividend payment by an average of 31.1% annually over the last three years. Phillips Edison & Company, Inc. has a payout ratio of 183.6% indicating that 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 $2.68 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. Price Performance

NASDAQ PECO opened at $36.58 on Friday. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 73.16, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. The company’s fifty day moving average price is $37.16 and its two-hundred day moving average price is $37.28.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on PECO shares. Wells Fargo & Company reduced their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. 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. Mizuho boosted their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Phillips Edison & Company, Inc. Company Profile

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.