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

Phillips Edison & Company, Inc. (NASDAQ: PECO) declared a dividend on Sunday, March 16th. Shareholders of record on March 18th will receive a dividend of $0.1025 per share, payable on April 1st. This translates to a dividend yield of 3.53%. The ex-dividend date is set for March 17th.

Recent Dividend Growth

Over the past three years, Phillips Edison & Company has increased its dividend payment by an impressive average of 31.1% per year. However, it is worth noting that the company has a payout ratio of 180.9%, indicating it currently does not generate enough earnings to cover its dividend payments fully and relies on its balance sheet for support. Analysts anticipate that Phillips Edison will earn $2.68 per share next year, suggesting that it should be able to manage its annual dividend of $1.23, leading to a future payout ratio of approximately 45.9%.

Stock Performance Overview

During trading on Friday, NASDAQ: PECO saw an increase of $0.38, closing at $34.81. The stock traded 664,403 shares, surpassing its average volume of 600,339. The company currently holds a market capitalization of $4.36 billion with a P/E ratio of 69.62 and a beta of 0.57. Its 50-day moving average stands at $36.22, while the 200-day moving average is $37.38. The stock's one-year trading range has seen a low of $30.62 and a high of $40.12.

Analyst Insights

Recent reports from various financial institutions have provided insights regarding Phillips Edison & Company. Specifically, Wells Fargo & Company adjusted their price target for PECO from $39.00 to $37.00, maintaining an “equal weight” rating. Likewise, JPMorgan Chase & Co. lowered their price target from $41.00 to $40.00 and rated the stock as “neutral.” Mizuho also cut its price target from $41.00 to $38.00, indicating an “outperform” rating. Collectively, three analysts rate the stock as a hold, while three view it as a buy, resulting in a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc. is a Real Estate Investment Trust (REIT) primarily focused on owning and operating shopping centers. Its investment management arm provides property management and advisory services. The company’s portfolio is made up of well-occupied, grocery-anchored neighborhood and community shopping centers, featuring a mix of national, regional, and local retailers that deliver essential goods and services.

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