Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases FY24 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.37-$2.45 for the period, compared to the consensus estimate of $2.39.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO traded down $0.30 during midday trading on Thursday, reaching $32.93. 521,710 shares of the company’s stock were exchanged, compared to its average volume of 619,680. The firm’s 50 day simple moving average is $34.68 and its two-hundred day simple moving average is $35.05. Phillips Edison & Company, Inc. has a fifty-two week low of $27.85 and a fifty-two week high of $37.92. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 71.63, a P/E/G ratio of 3.77 and a beta of 0.55.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.0975 per share. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, April 12th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

Analyst Upgrades and Downgrades

PECO has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a neutral rating for the company in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a buy rating and a $41.00 price objective on the stock. Finally, Mizuho raised shares of Phillips Edison & Company, Inc. from a neutral rating to a buy rating and lifted their price objective 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, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of Hold and an average target price of $38.14.

Phillips Edison & Company, Inc. Company Profile

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.