Phillips Edison & Company, Inc. (NASDAQ:PECO) Announces Quarterly Earnings Results

Phillips Edison & Company, Inc. (NASDAQ:PECO) released its quarterly earnings results on Monday. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.20), FiscalAI reports. Phillips Edison & Company, Inc. had a net margin of 23.87% and a return on equity of 6.90%. The business had revenue of $193.09 million for the quarter, compared to the consensus estimate of $190.17 million. During the same quarter in the prior year, the business posted $0.65 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ PECO opened at $38.83 on Friday. The stock has a market cap of $5.00 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 2.32 and a beta of 0.52. The stock has a 50 day simple moving average of $38.13 and a two-hundred day simple moving average of $39.15. Phillips Edison & Company, Inc. has a fifty-two week low of $33.10 and a fifty-two week high of $44.38.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be given a dividend of $0.1150 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $1.38 dividend on an annualized basis and a yield of 3.6%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 95.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PECO shares. UBS Group dropped their price target on Phillips Edison & Company, Inc. from $46.00 to $42.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. JPMorgan Chase & Co. increased their price target on Phillips Edison & Company, Inc. from $41.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Morgan Stanley raised their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Barclays reduced their price target on shares of Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. Finally, The Goldman Sachs Group set a $44.00 price objective on shares of Phillips Edison & Company, Inc. in a report on Wednesday, October 7th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.20.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc is a real estate investment trust focused on owning, operating and developing grocery-anchored shopping centers in the United States. Its properties are typically located in established communities and are designed to provide consumers with convenient access to essential goods and services.

The company’s portfolio includes neighborhood and community shopping centers anchored by grocery stores, alongside complementary tenants such as restaurants, personal care providers, medical offices and other service-oriented businesses.