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

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Free Report) declared a monthly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Monday, June 17th will be given a dividend of 0.0975 per share on Tuesday, July 2nd. This represents a $1.17 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, June 17th.

Phillips Edison & Company, Inc. has a payout ratio of 177.3% meaning 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 $2.53 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 46.2%.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO traded down $0.13 during trading on Friday, hitting $32.23. 476,024 shares of the company’s stock were exchanged, compared to its average volume of 734,211. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 70.07, a PEG ratio of 3.26 and a beta of 0.56. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $37.92. The business’s 50-day simple moving average is $32.47 and its 200 day simple moving average is $34.48.

Analyst Ratings Changes

Several brokerages have weighed in on PECO. Compass Point reduced their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Mizuho cut their price target on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft cut their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Finally, Wells Fargo & Company dropped their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.43.

Read Our Latest Report on Phillips Edison & Company, Inc.

About Phillips Edison & Company, Inc.

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Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.

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Dividend History for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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