Phillips Edison & Company, Inc. (NASDAQ:PECO) Hits New 52-Week High Following Dividend Announcement

Phillips Edison & Company, Inc. (NASDAQ:PECO)’s share price hit a new 52-week high during trading on Wednesday after the company announced a dividend. The stock traded as high as $39.50 and last traded at $39.40, with a volume of 26360 shares trading hands. The stock had previously closed at $38.70.

The newly announced dividend which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio is 267.39%.

Wall Street Analyst Weigh In

PECO has been the topic of a number of research reports. Compass Point boosted their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Mizuho boosted their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and an average target price of $37.50.

Phillips Edison & Company, Inc. Stock Performance

The company’s 50 day moving average price is $37.34 and its 200 day moving average price is $34.71. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 84.48, a P/E/G ratio of 3.50 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The company had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.58 EPS. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in Phillips Edison & Company, Inc. by 15.5% during the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after purchasing an additional 325 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Phillips Edison & Company, Inc. by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company’s stock valued at $2,423,000 after acquiring an additional 372 shares during the last quarter. Xponance Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 6.3% in the 2nd quarter. Xponance Inc. now owns 7,789 shares of the company’s stock valued at $255,000 after acquiring an additional 465 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Phillips Edison & Company, Inc. by 6.5% in the 3rd quarter. Private Advisor Group LLC now owns 8,009 shares of the company’s stock valued at $302,000 after acquiring an additional 487 shares during the last quarter. Finally, Calton & Associates Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 1.8% in the 3rd quarter. Calton & Associates Inc. now owns 37,233 shares of the company’s stock valued at $1,404,000 after acquiring an additional 641 shares during the last quarter. 80.70% of the stock is owned by institutional investors.

About Phillips Edison & Company, Inc.

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.