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

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) declared a monthly dividend on Thursday, May 1st, investing.com reports. Investors 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 3.48%. The ex-dividend date is Tuesday, July 15th.

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. Trading Up 0.7%

Shares of PECO stock traded up $0.26 on Wednesday, hitting $35.34. 437,178 shares of the stock were exchanged, compared to its average volume of 731,072. Phillips Edison & Company, Inc. has a fifty-two week low of $31.79 and a fifty-two week high of $40.12. The firm has a market capitalization of $4.43 billion, a P/E ratio of 62.00, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. The business has a 50-day moving average of $35.38 and a 200 day moving average of $36.20.

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

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

Institutional investors have recently added to or reduced their stakes in the business. 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 purchasing an additional 9,250 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Phillips Edison & Company, Inc. during the first quarter valued at approximately $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 worth $2,668,000 after purchasing an additional 3,199 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of 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. 80.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PECO shares. Mizuho dropped their price objective 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 lowered 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target 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.