Phillips Edison & Company, Inc. (PECO) To Go Ex-Dividend on November 15th

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a monthly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.102 per share on Tuesday, December 3rd. This represents a $1.22 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, November 15th.

Phillips Edison & Company, Inc. has a dividend payout ratio of 201.6% meaning 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 $2.55 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. Trading Up 1.5 %

Shares of NASDAQ:PECO traded up $0.57 during midday trading on Friday, hitting $38.38. The stock had a trading volume of 27,335 shares, compared to its average volume of 662,098. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.08. The stock has a 50 day moving average price of $37.25 and a two-hundred day moving average price of $34.56. The company has a market capitalization of $4.70 billion, a PE ratio of 82.20, a P/E/G ratio of 3.47 and a beta of 0.57.

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

Analyst Ratings Changes

PECO has been the topic of several recent analyst reports. Mizuho upped their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and a consensus price target of $37.50.

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.