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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Friday, February 14th,Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 0.1025 per share on Thursday, May 1st. This represents a $1.23 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, April 15th.

Phillips Edison & Company, Inc. has raised its dividend by an average of 31.1% annually over the last three years. Phillips Edison & Company, Inc. has a dividend 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. 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. Trading Down 1.8 %

Shares of 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 stock has a 50 day moving average of $37.16 and a 200-day moving average of $37.27. The company has a market capitalization of $4.48 billion, a P/E ratio of 73.16, a P/E/G ratio of 1.76 and a beta of 0.58.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PECO. Wolfe Research upgraded 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 lifted their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their price target on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of “Moderate Buy” and an average price target of $39.50.

About Phillips Edison & Company, Inc.

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.