Phillips Edison & Company, Inc. (PECO) To Go Ex-Dividend on June 17th

Phillips Edison & Company, Inc. (NASDAQ:PECO) announced a monthly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders 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 an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10.

Phillips Edison & Company, Inc. has a dividend 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 Up 0.0 %

Shares of NASDAQ PECO opened at $33.08 on Friday. The firm has a 50-day simple moving average of $34.45 and a 200-day simple moving average of $34.99. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 71.91, a price-to-earnings-growth ratio of 3.91 and a beta of 0.59. Phillips Edison & Company, Inc. has a 52 week low of $27.85 and a 52 week high of $37.92.

Analyst Upgrades and Downgrades

PECO has been the subject of several research analyst reports. Compass Point lowered their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They set a “buy” rating and a $41.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Finally, Mizuho raised shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $35.00 to $37.00 in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.14.

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.