Phillips Edison & Company, Inc. (NASDAQ:PECO) Issues Quarterly Earnings Results, Beats Estimates By $0.50 EPS

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced its earnings results on Thursday. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.50, Zacks reports. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%.

Phillips Edison & Company, Inc. Trading Down 0.7 %

Shares of PECO stock opened at $36.61 on Friday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The stock has a 50 day moving average of $37.43 and a 200 day moving average of $37.16. The stock has a market cap of $4.49 billion, a P/E ratio of 79.59, a P/E/G ratio of 3.17 and a beta of 0.58.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were paid a $0.1025 dividend. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date was Monday, December 16th. This represents a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PECO shares. JPMorgan Chase & Co. decreased their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered 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 research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Moderate Buy” and a consensus 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.