Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) announced a monthly dividend on Tuesday, May 12th. Stockholders of record on Wednesday, July 15th will be given a dividend of 0.1083 per share on Tuesday, August 4th. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, July 15th.
Phillips Edison & Company, Inc. has raised its dividend by an average of 0.7%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Phillips Edison & Company, Inc. has a dividend payout ratio of 183.1% meaning 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 $2.89 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. Price Performance
Shares of PECO traded down $0.30 during mid-day trading on Wednesday, reaching $39.36. The company had a trading volume of 286,722 shares, compared to its average volume of 893,844. The company has a market capitalization of $4.95 billion, a P/E ratio of 42.78, a P/E/G ratio of 1.02 and a beta of 0.54. Phillips Edison & Company, Inc. has a twelve month low of $32.84 and a twelve month high of $40.71. The company’s 50-day moving average is $38.54 and its 200-day moving average is $36.75.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on PECO shares. Weiss Ratings lowered shares of Phillips Edison & Company, Inc. from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Evercore restated an “outperform” rating and issued a $43.00 price target on shares of Phillips Edison & Company, Inc. in a research report on Monday, April 27th. Barclays raised their price objective on shares of Phillips Edison & Company, Inc. from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday. Wells Fargo & Company boosted their target price on Phillips Edison & Company, Inc. from $36.00 to $40.00 and gave the stock an “equal weight” rating in a report on Thursday, March 19th. Finally, Morgan Stanley increased their price target on Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.43.
View 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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