Phillips Edison & Company, Inc. (NASDAQ:PECO) Issues FY 2024 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.510-0.550 for the period, compared to the consensus EPS estimate of 0.530. The company issued revenue guidance of -. Phillips Edison & Company, Inc. also updated its FY24 guidance to $2.37-$2.45 EPS.

Phillips Edison & Company, Inc. Price Performance

PECO stock traded down $0.30 during mid-day trading on Thursday, reaching $32.93. 521,710 shares of the company’s stock were exchanged, compared to its average volume of 619,680. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 71.63, a price-to-earnings-growth ratio of 3.77 and a beta of 0.55. The stock’s 50 day moving average is $34.68 and its 200 day moving average is $35.05. Phillips Edison & Company, Inc. has a 12-month low of $27.85 and a 12-month high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.0975 per share. The ex-dividend date is Friday, April 12th. This represents a $1.17 dividend on an annualized basis and a yield of 3.55%. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

Wall Street Analyst Weigh In

PECO has been the topic of a number of recent analyst reports. Mizuho upgraded Phillips Edison & Company, Inc. from a neutral rating to a buy rating and increased their price target for the stock from $35.00 to $37.00 in a research report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a buy rating and a $41.00 target price for the company. Finally, JPMorgan Chase & Co. reduced their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a neutral rating for the company in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $38.14.

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.