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

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

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PECO shares. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point upped their price target on 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. Finally, Mizuho upped their price target on 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and an average price target of $37.50.

Phillips Edison & Company, Inc. Stock Performance

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. The firm has a fifty day moving average price of $37.34 and a 200 day moving average price of $34.71.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). The company had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS. On average, analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

Several hedge funds have recently added to or reduced their stakes in the business. Cassady Schiller Wealth Management LLC acquired a new stake in Phillips Edison & Company, Inc. during the 3rd quarter valued at $546,000. Natixis Advisors LLC lifted its holdings in Phillips Edison & Company, Inc. by 132.6% during the 3rd quarter. Natixis Advisors LLC now owns 43,782 shares of the company’s stock valued at $1,651,000 after purchasing an additional 24,963 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Phillips Edison & Company, Inc. by 29.8% during the 3rd quarter. Metis Global Partners LLC now owns 12,613 shares of the company’s stock valued at $476,000 after purchasing an additional 2,893 shares during the last quarter. KBC Group NV lifted its holdings in Phillips Edison & Company, Inc. by 21.9% during the 3rd quarter. KBC Group NV now owns 3,902 shares of the company’s stock valued at $147,000 after purchasing an additional 700 shares during the last quarter. Finally, First Heartland Consultants Inc. lifted its holdings in Phillips Edison & Company, Inc. by 12.3% during the 3rd quarter. First Heartland Consultants Inc. now owns 10,663 shares of the company’s stock valued at $402,000 after purchasing an additional 1,170 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

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.