Phillips Edison & Company, Inc. (NASDAQ:PECO) to Issue Dividend Increase – $0.10 Per Share

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Monday, June 17th will be paid a dividend of 0.0975 per share on Tuesday, July 2nd. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, June 17th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.

Phillips Edison & Company, Inc. has a payout ratio of 195.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Phillips Edison & Company, Inc. to earn $2.52 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 46.4%.

Phillips Edison & Company, Inc. Stock Performance

PECO traded up $0.40 on Thursday, hitting $33.07. The company had a trading volume of 534,568 shares, compared to its average volume of 620,378. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 72.39, a P/E/G ratio of 3.87 and a beta of 0.59. The stock has a fifty day moving average price of $34.48 and a 200-day moving average price of $35.00. Phillips Edison & Company, Inc. has a 12-month low of $27.85 and a 12-month high of $37.92.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PECO. JPMorgan Chase & Co. decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and upped their target price for the company from $35.00 to $37.00 in a research report on Friday, February 23rd. Compass Point lowered their price target on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus price target of $38.14.

Phillips Edison & Company, Inc. Company Profile

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.