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

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) announced a monthly dividend on Monday, May 9th, Wall Street Journal reports. Shareholders of record on Wednesday, June 15th will be paid a dividend of 0.09 per share on Friday, July 1st. This represents a $1.08 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Tuesday, June 14th.

Shares of Phillips Edison & Company, Inc. stock traded down $1.48 during trading hours on Monday, hitting $32.03. The company’s stock had a trading volume of 768,090 shares, compared to its average volume of 1,720,094. Phillips Edison & Company, Inc. has a 12 month low of $26.51 and a 12 month high of $36.35. The stock has a 50 day moving average of $34.22 and a 200 day moving average of $32.98. The company has a market capitalization of $3.63 billion and a PE ratio of 143.04.

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 the consensus estimate of $0.50 by ($0.41). Phillips Edison & Company, Inc. had a return on equity of 1.08% and a net margin of 4.61%. As a group, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.2 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on PECO shares. Wells Fargo & Company increased their price target on Phillips Edison & Company, Inc. from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. Mizuho increased their price target on Phillips Edison & Company, Inc. from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, February 15th. Wolfe Research initiated coverage on Phillips Edison & Company, Inc. in a report on Monday, January 10th. They set an “outperform” rating for the company. Morgan Stanley downgraded 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 report on Wednesday, March 9th. Finally, Zacks Investment Research upgraded Phillips Edison & Company, Inc. from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, February 2nd. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and a consensus price target of $34.50.

A number of hedge funds have recently bought and sold shares of PECO. Goldman Sachs Group Inc. grew its stake in Phillips Edison & Company, Inc. by 1,332.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 212,395 shares of the company’s stock valued at $7,017,000 after purchasing an additional 197,571 shares in the last quarter. Deutsche Bank AG grew its stake in Phillips Edison & Company, Inc. by 127.3% in the fourth quarter. Deutsche Bank AG now owns 336,669 shares of the company’s stock valued at $11,124,000 after purchasing an additional 188,548 shares in the last quarter. BlackRock Inc. grew its stake in Phillips Edison & Company, Inc. by 14.4% in the fourth quarter. BlackRock Inc. now owns 1,344,170 shares of the company’s stock valued at $44,411,000 after purchasing an additional 169,196 shares in the last quarter. State Street Corp grew its stake in Phillips Edison & Company, Inc. by 63.3% in the fourth quarter. State Street Corp now owns 354,367 shares of the company’s stock valued at $11,739,000 after purchasing an additional 137,331 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in Phillips Edison & Company, Inc. by 122.7% in the fourth quarter. Citadel Advisors LLC now owns 129,339 shares of the company’s stock valued at $4,273,000 after purchasing an additional 71,261 shares in the last quarter. Hedge funds and other 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.

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

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