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

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) declared a dividend on Sunday, June 15th, investing.com reports. Stockholders of record on Tuesday, June 17th will be given a dividend of 0.1025 per share on Tuesday, July 1st. This represents a dividend yield of 3.47%. The ex-dividend date is Monday, June 16th.

Phillips Edison & Company, Inc. has a 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

Shares of NASDAQ PECO traded up $0.04 during midday trading on Monday, hitting $35.39. 87,627 shares of the stock traded hands, compared to its average volume of 728,747. The firm has a market capitalization of $4.44 billion, a P/E ratio of 70.66, a PEG ratio of 1.70 and a beta of 0.56. Phillips Edison & Company, Inc. has a one year low of $31.75 and a one year high of $40.12. The firm has a 50-day moving average of $35.34 and a two-hundred day moving average of $36.24.

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 business had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in Phillips Edison & Company, Inc. during the first quarter worth approximately $333,000. AQR Capital Management LLC lifted its position in shares of Phillips Edison & Company, Inc. by 8.2% during 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 acquiring an additional 3,199 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Phillips Edison & Company, Inc. by 12.8% in the 1st quarter. Royal Bank of Canada now owns 81,726 shares of the company's stock valued at $2,982,000 after purchasing an additional 9,250 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.

Wall Street Analysts Forecast Growth

PECO has been the subject of a number of recent research reports. Mizuho cut their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th. Wells Fargo & Company decreased their price target 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of "Hold" and a consensus target price of $39.00.

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.