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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Wednesday, May 15th will be given a dividend of 0.097 per share on Tuesday, June 4th. This represents a $1.16 annualized dividend and a yield of 3.51%. The ex-dividend date is Tuesday, May 14th.

Phillips Edison & Company, Inc. has a dividend payout ratio of 195.0% 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 analysts expect Phillips Edison & Company, Inc. to earn $2.52 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 46.4%.

Phillips Edison & Company, Inc. Stock Up 1.4 %

Shares of PECO traded up $0.46 during trading hours on Thursday, reaching $33.13. The company’s stock had a trading volume of 24,519 shares, compared to its average volume of 617,250. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 71.02, a P/E/G ratio of 3.87 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1-year low of $27.85 and a 1-year high of $37.92. The company has a 50 day moving average of $34.52 and a two-hundred day moving average of $35.02.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PECO shares. Mizuho upgraded Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $35.00 to $37.00 in a report on Friday, February 23rd. Compass Point dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft started coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.14.

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.