Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) announced a monthly dividend on Tuesday, May 12th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.1083 per share on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, June 15th.
Phillips Edison & Company, Inc. has increased its dividend by an average of 0.7%annually over the last three years and has raised its dividend every year for the last 1 years. Phillips Edison & Company, Inc. has a dividend payout ratio of 183.1% 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 analysts expect Phillips Edison & Company, Inc. to earn $2.89 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 45.0%.
Phillips Edison & Company, Inc. Stock Performance
Phillips Edison & Company, Inc. stock traded down $0.30 during trading hours on Wednesday, hitting $39.35. 265,205 shares of the stock were exchanged, compared to its average volume of 893,660. The stock has a market capitalization of $4.95 billion, a P/E ratio of 42.82, a P/E/G ratio of 1.02 and a beta of 0.54. Phillips Edison & Company, Inc. has a 12 month low of $32.84 and a 12 month high of $40.71. The business’s 50-day moving average is $38.54 and its two-hundred day moving average is $36.75.
Analysts Set New Price Targets
PECO has been the topic of several research analyst reports. Evercore reissued an “outperform” rating and set a $43.00 price target on shares of Phillips Edison & Company, Inc. in a research note on Monday, April 27th. Barclays increased their price target on shares of Phillips Edison & Company, Inc. from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday. Morgan Stanley increased their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 21st. Wells Fargo & Company increased their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, March 19th. Finally, Weiss Ratings cut shares of Phillips Edison & Company, Inc. from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus target price of $40.43.
Check Out Our Latest Research Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Company Profile
Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company’s investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.
In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.
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