Phillips Edison & Company, Inc. (NASDAQ:PECO) Releases FY24 Earnings Guidance

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.37-$2.45 for the period, compared to the consensus estimate of $2.39. Phillips Edison & Company, Inc. also updated its FY 2024 guidance to 0.510-0.550 EPS.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Mizuho raised Phillips Edison & Company, Inc. from a neutral rating to a buy rating and increased their price objective for the company from $35.00 to $37.00 in a research note on Friday, February 23rd. JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a neutral rating for the company in a research note on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They set a buy rating and a $41.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $38.14.

Phillips Edison & Company, Inc. Stock Performance

PECO stock traded down $0.32 on Friday, reaching $32.61. The company’s stock had a trading volume of 921,357 shares, compared to its average volume of 535,288. The business has a fifty day simple moving average of $34.60 and a two-hundred day simple moving average of $35.03. Phillips Edison & Company, Inc. has a 12-month low of $27.85 and a 12-month high of $37.92. The firm has a market cap of $3.98 billion, a PE ratio of 70.89, a PEG ratio of 3.72 and a beta of 0.55.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a $0.0975 dividend. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Friday, April 12th. This represents a $1.17 dividend on an annualized basis and a yield of 3.59%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

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.