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

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) announced a monthly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Tuesday, July 15th will be given a dividend of 0.1025 per share on Friday, August 1st. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Tuesday, July 15th.

Phillips Edison & Company, Inc. has raised its dividend payment by an average of 31.1% per year over the last three years. Phillips Edison & Company, Inc. has a dividend payout ratio of 173.2% 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 $2.68 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 0.8 %

NASDAQ:PECO traded down $0.28 during mid-day trading on Thursday, reaching $35.23. 508,588 shares of the stock were exchanged, compared to its average volume of 714,448. The business has a fifty day moving average price of $35.41 and a 200 day moving average price of $36.82. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The firm has a market capitalization of $4.42 billion, a PE ratio of 70.47, a PEG ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. The company had revenue of $178.31 million for the quarter, compared to analysts' expectations of $170.59 million. During the same quarter in the previous year, the company posted $0.60 EPS. The business's revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PECO. Wells Fargo & Company decreased their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Mizuho cut their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Phillips Edison & Company, Inc. has a consensus rating of "Moderate Buy" and an average target price of $38.83.

Phillips Edison & Company, Inc. Company Profile

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.