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

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) announced a monthly dividend on Tuesday, August 5th, 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) annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 15th.

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. Equities 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 PECO traded down $0.59 during mid-day trading on Friday, hitting $33.04. 1,156,779 shares of the company's stock were exchanged, compared to its average volume of 995,262. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 60.07, a P/E/G ratio of 1.12 and a beta of 0.54. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $40.12. The stock's 50-day moving average is $34.90 and its 200-day moving average is $35.42.

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

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.