Phillips Edison & Company, Inc. (NASDAQ:PECO) Sets New 12-Month High After Dividend Announcement

Phillips Edison & Company, Inc. (NASDAQ:PECO) reached a new 52-week high during mid-day 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 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. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.17%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PECO. Compass Point upped their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Mizuho increased their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a 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 raised their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Stock Down 0.6 %

The company has a 50 day simple moving average of $37.38 and a 200 day simple moving average of $34.74. The company has a market capitalization of $4.76 billion, a price-to-earnings ratio of 85.07, a price-to-earnings-growth ratio of 3.50 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The firm had revenue of $165.50 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.58 EPS. On average, research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

A number of hedge funds have recently made changes to their positions in the business. 1620 Investment Advisors Inc. acquired a new position in shares of Phillips Edison & Company, Inc. during the second quarter worth about $26,000. V Square Quantitative Management LLC purchased a new stake in Phillips Edison & Company, Inc. during the 3rd quarter worth approximately $28,000. Hobbs Group Advisors LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $39,000. PFG Private Wealth Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth approximately $62,000. Finally, Blue Trust Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 160.2% in the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after buying an additional 1,290 shares during the last quarter. Hedge funds and other institutional investors 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.