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

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) declared a dividend on Monday, June 16th, investing.com reports. Shareholders of record on Tuesday, June 17th will be given a dividend of 0.1025 per share on Tuesday, July 1st. This represents a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 16th.

Phillips Edison & Company, Inc. has a dividend payout ratio of 173.2% 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. Stock Performance

NASDAQ PECO traded up $0.26 on Thursday, hitting $35.34. 437,178 shares of the stock were exchanged, compared to its average volume of 731,528. The stock has a fifty day moving average price of $35.39 and a two-hundred day moving average price of $36.20. The firm has a market capitalization of $4.43 billion, a P/E ratio of 62.00, a P/E/G ratio of 1.23 and a beta of 0.56. Phillips Edison & Company, Inc. has a 52-week low of $31.79 and a 52-week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $178.31 million during the quarter, compared to analyst estimates of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. Phillips Edison & Company, Inc.'s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. Sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Mizuho decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $39.00.

Institutional Trading of Phillips Edison & Company, Inc.

A number of hedge funds have recently added to or reduced their stakes in PECO. Royal Bank of Canada lifted its stake in Phillips Edison & Company, Inc. by 12.8% in the first quarter. Royal Bank of Canada now owns 81,726 shares of the company's stock worth $2,982,000 after acquiring an additional 9,250 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the first quarter valued at about $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Phillips Edison & Company, Inc. by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company's stock valued at $2,668,000 after buying an additional 3,199 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Phillips Edison & Company, Inc. by 8.2% during the first quarter. AQR Capital Management LLC now owns 11,091 shares of the company's stock valued at $405,000 after buying an additional 845 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

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.