Phillips Edison & Company, Inc. (NASDAQ:PECO) Announces $0.09 Monthly Dividend

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) announced a monthly dividend on Tuesday, May 10th, Wall Street Journal reports. Shareholders of record on Friday, July 15th will be paid a dividend of 0.09 per share on Monday, August 1st. This represents a $1.08 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, July 14th.

NASDAQ PECO traded down $0.20 on Tuesday, reaching $31.83. The company had a trading volume of 682,366 shares, compared to its average volume of 1,708,499. The stock has a market capitalization of $3.61 billion and a PE ratio of 139.26. The firm’s 50 day moving average price is $34.22 and its 200 day moving average price is $32.99. Phillips Edison & Company, Inc. has a 12 month low of $26.51 and a 12 month high of $36.35.

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.41). Phillips Edison & Company, Inc. had a net margin of 4.61% and a return on equity of 1.08%. Equities research analysts expect that Phillips Edison & Company, Inc. will post 2.2 earnings per share for the current fiscal year.

PECO has been the subject of a number of recent research reports. Mizuho lifted their price objective on shares of Phillips Edison & Company, Inc. from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, February 15th. Zacks Investment Research raised shares of Phillips Edison & Company, Inc. from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Wednesday, February 2nd. Wolfe Research initiated coverage on shares of Phillips Edison & Company, Inc. in a research note on Monday, January 10th. They issued an “outperform” rating for the company. Wells Fargo & Company lifted their price objective on shares of Phillips Edison & Company, Inc. from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 7th. Finally, Morgan Stanley cut shares of Phillips Edison & Company, Inc. from an “overweight” rating to an “equal weight” rating and set a $37.00 price objective for the company. in a research note on Wednesday, March 9th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $34.50.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada bought a new stake in Phillips Edison & Company, Inc. during the 3rd quarter valued at about $74,000. Legal & General Group Plc raised its holdings in shares of Phillips Edison & Company, Inc. by 312.6% in the 4th quarter. Legal & General Group Plc now owns 6,379 shares of the company’s stock valued at $211,000 after purchasing an additional 4,833 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $216,000. Metropolitan Life Insurance Co NY raised its holdings in shares of Phillips Edison & Company, Inc. by 23.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 6,819 shares of the company’s stock valued at $225,000 after purchasing an additional 1,292 shares in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $235,000. Institutional investors own 36.58% of the company’s stock.

About Phillips Edison & Company, Inc. (Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

See Also

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

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