Phillips Edison & Company, Inc. (PECO) To Go Ex-Dividend on February 14th

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Free Report) declared a monthly dividend on Monday, November 13th, Wall Street Journal reports. Investors of record on Thursday, February 15th will be given a dividend of 0.0975 per share on Friday, March 1st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Wednesday, February 14th.

Phillips Edison & Company, Inc. has a payout ratio of 208.9% 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 $2.51 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 46.6%.

Phillips Edison & Company, Inc. Stock Up 0.5 %

Phillips Edison & Company, Inc. stock opened at $34.97 on Monday. Phillips Edison & Company, Inc. has a 52-week low of $27.85 and a 52-week high of $37.92. The firm’s fifty day moving average is $35.88 and its 200 day moving average is $34.99. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 76.02, a PEG ratio of 3.60 and a beta of 0.56.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Clearstead Advisors LLC purchased a new position in Phillips Edison & Company, Inc. in the third quarter valued at about $25,000. State of Wyoming purchased a new stake in shares of Phillips Edison & Company, Inc. during the second quarter valued at about $30,000. Rockefeller Capital Management L.P. boosted its holdings in shares of Phillips Edison & Company, Inc. by 5,000.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,326 shares of the company’s stock valued at $42,000 after buying an additional 1,300 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter worth approximately $48,000. Finally, FWL Investment Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 4th quarter worth approximately $51,000. 83.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Phillips Edison & Company, Inc. from $35.00 to $32.00 and set an “underweight” rating for the company in a report on Monday, November 13th. Mizuho dropped their target price on Phillips Edison & Company, Inc. from $36.00 to $35.00 and set a “neutral” rating for the company in a report on Friday, December 1st. BMO Capital Markets boosted their target price on Phillips Edison & Company, Inc. from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, December 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.00.

Check Out Our Latest Stock Report on PECO

About Phillips Edison & Company, Inc.

(Get Free Report)

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.

Featured Articles

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

Receive News & Ratings for Phillips Edison & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips Edison & Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.