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

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) announced a monthly dividend on Thursday, May 1st, NASDAQ Dividends reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.1025 per share on Tuesday, July 1st. This represents a $1.23 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, June 16th.

Phillips Edison & Company, Inc. has raised its dividend payment by an average of 31.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive 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. 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

Phillips Edison & Company, Inc. stock traded down $0.14 during mid-day trading on Monday, reaching $36.14. 112,606 shares of the company were exchanged, compared to its average volume of 717,038. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The business has a fifty day moving average of $35.39 and a 200 day moving average of $36.77. The firm has a market cap of $4.53 billion, a P/E ratio of 72.26, a PEG ratio of 1.70 and a beta of 0.57.

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

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in Phillips Edison & Company, Inc. by 12.8% during the 1st quarter. Royal Bank of Canada now owns 81,726 shares of the company's stock worth $2,982,000 after purchasing an additional 9,250 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Phillips Edison & Company, Inc. during the 1st quarter valued at about $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Phillips Edison & Company, Inc. by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company's stock valued at $2,668,000 after acquiring an additional 3,199 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in Phillips Edison & Company, Inc. by 8.2% in the 1st quarter. AQR Capital Management LLC now owns 11,091 shares of the company's stock worth $405,000 after purchasing an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PECO. Wells Fargo & Company decreased their price objective on shares of 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. Mizuho dropped 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 assigned a buy rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

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.