Phillips Edison & Company, Inc. (NASDAQ:PECO) Issues Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Key Points

• Phillips Edison exceeded earnings expectations, reporting quarterly EPS of $0.49 versus the $0.19 consensus estimate. Revenue reached $193.09 million, also above analysts’ forecast of $190.17 million.
• The company declared a monthly dividend of $0.115 per share, equal to $1.38 annually and a 3.6% yield. Its payout ratio currently stands at 120%.
• PECO shares traded around $38.60, while analysts maintained a consensus “Hold” rating with an average price target of $43.20; recent targets ranged from $39 to $46.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.30, FiscalAI reports. The business had revenue of $193.09 million during the quarter, compared to the consensus estimate of $190.17 million. Phillips Edison & Company, Inc. had a return on equity of 5.52% and a net margin of 19.14%.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO traded up $0.24 during trading hours on Monday, hitting $38.60. The company had a trading volume of 1,428,385 shares, compared to its average volume of 978,768. The firm has a fifty day moving average price of $38.25 and a 200-day moving average price of $39.91. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 2.30 and a beta of 0.52. Phillips Edison & Company, Inc. has a 52-week low of $33.10 and a 52-week high of $44.38.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be issued a dividend of $0.1150 per share. The ex-dividend date is Monday, November 16th. This represents a $1.38 annualized dividend and a dividend yield of 3.6%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 120.00%.

Analysts Set New Price Targets

PECO has been the topic of a number of research reports. Mizuho dropped their target price on shares of Phillips Edison & Company, Inc. from $43.00 to $39.00 and set an "outperform" rating on the stock in a report on Thursday, September 24th. Weiss Ratings lowered shares of Phillips Edison & Company, Inc. from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Evercore reissued an "outperform" rating on shares of Phillips Edison & Company, Inc. in a research report on Monday, September 21st. JPMorgan Chase & Co. boosted their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. Finally, The Goldman Sachs Group set a $44.00 price objective on shares of Phillips Edison & Company, Inc. in a report on Wednesday, October 7th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of "Hold" and an average price target of $43.20.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc is a real estate investment trust focused on owning, operating and developing grocery-anchored shopping centers in the United States. Its properties are typically located in established communities and are designed to provide consumers with convenient access to essential goods and services.

The company's portfolio includes neighborhood and community shopping centers anchored by grocery stores, alongside complementary tenants such as restaurants, personal care providers, medical offices and other service-oriented businesses.

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