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

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Tuesday, November 14th, Wall Street Journal reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.0975 per share on Friday, March 1st. This represents a $1.17 annualized dividend and a yield of 3.35%. The ex-dividend date is Wednesday, February 14th.

Phillips Edison & Company, Inc. has a dividend payout ratio of 229.4% 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 $2.38 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 49.2%.

Phillips Edison & Company, Inc. Trading Down 0.5 %

Shares of PECO stock opened at $34.89 on Thursday. Phillips Edison & Company, Inc. has a 1 year low of $27.85 and a 1 year high of $36.46. The firm’s 50 day moving average is $34.14 and its 200-day moving average is $33.34. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 74.23, a PEG ratio of 3.17 and a beta of 0.64.

Wall Street Analysts Forecast Growth

PECO has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Phillips Edison & Company, Inc. from $35.00 to $32.00 and set an “underweight” rating on the stock in a research report on Monday. The Goldman Sachs Group upped their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Mizuho upped their target price on shares of Phillips Edison & Company, Inc. from $35.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, September 18th. Finally, Compass Point increased their price objective on shares of Phillips Edison & Company, Inc. from $32.00 to $36.00 in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.00.

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Phillips Edison & Company, Inc. by 579.0% during the first quarter. Vanguard Group Inc. now owns 10,505,954 shares of the company’s stock worth $361,300,000 after acquiring an additional 8,958,751 shares in the last quarter. BlackRock Inc. grew its position in Phillips Edison & Company, Inc. by 443.8% in the first quarter. BlackRock Inc. now owns 7,310,113 shares of the company’s stock valued at $251,393,000 after purchasing an additional 5,965,943 shares in the last quarter. Wellington Management Group LLP grew its position in Phillips Edison & Company, Inc. by 313.4% in the first quarter. Wellington Management Group LLP now owns 7,725,477 shares of the company’s stock valued at $265,679,000 after purchasing an additional 5,856,834 shares in the last quarter. State Street Corp grew its position in Phillips Edison & Company, Inc. by 128.1% in the second quarter. State Street Corp now owns 4,480,286 shares of the company’s stock valued at $149,905,000 after purchasing an additional 2,516,281 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its position in Phillips Edison & Company, Inc. by 126.2% in the first quarter. Centersquare Investment Management LLC now owns 1,944,184 shares of the company’s stock valued at $66,860,000 after purchasing an additional 1,084,530 shares in the last quarter. 83.48% of the stock is currently owned by institutional investors and hedge funds.

About Phillips Edison & Company, Inc.

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.