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

Phillips Edison & Company, Inc. (NASDAQ:PECO) declared a dividend on Monday, June 16th, investing.com reports. Shareholders of record on Tuesday, June 17th will be given a dividend of 0.1025 per share on Tuesday, July 1st. This represents a yield of 3.5%. 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. Equities 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 0.8%

Shares of Phillips Edison & Company, Inc. stock traded down $0.30 on Monday, reaching $35.15. The stock had a trading volume of 627,017 shares, compared to its average volume of 730,866. The business’s 50 day moving average is $35.34 and its two-hundred day moving average is $36.24. Phillips Edison & Company, Inc. has a 1 year low of $31.75 and a 1 year high of $40.12. The company has a market cap of $4.41 billion, a P/E ratio of 70.30, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The business had revenue of $178.31 million for the quarter, compared to analyst estimates of $170.59 million. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. On average, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PECO shares. 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 on the stock 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 for the company in a report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.00.

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

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of 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 valued at $2,982,000 after buying an additional 9,250 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Phillips Edison & Company, Inc. by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company’s stock worth $2,668,000 after acquiring an additional 3,199 shares during the period. AQR Capital Management LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 8.2% in the first quarter. AQR Capital Management LLC now owns 11,091 shares of the company’s stock worth $405,000 after acquiring an additional 845 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the first quarter worth about $333,000. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Company Profile

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.