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

Key Points

• Phillips Edison & Company, Inc. has declared a monthly dividend of $0.10, which stockholders of record will receive on September 3rd, yielding approximately 3.6% annually.
• The company has a high payout ratio of 173.2%, indicating it relies on its balance sheet to support its dividends, although future earnings projections suggest a healthier payout ratio of 45.9%.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average target price of $38.50, amidst recent downgrades and varying price targets from different firms.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) declared a monthly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.1025 per share on Wednesday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, August 15th.

Phillips Edison & Company, Inc. has a 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. 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 0.9%

PECO stock traded down $0.29 during trading on Wednesday, reaching $33.73. The stock had a trading volume of 1,041,254 shares, compared to its average volume of 782,364. The stock's 50 day moving average is $35.00 and its two-hundred day moving average is $35.48. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12. The firm has a market cap of $4.24 billion, a PE ratio of 61.33, a PEG ratio of 1.15 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%. The firm had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. During the same quarter in the previous year, the company posted $0.59 EPS. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen downgraded Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Barclays initiated coverage on Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price target for the company. Finally, Mizuho cut their target price on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $38.50.

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.

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