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

Phillips Edison & Company, Inc. (NASDAQ:PECO) released its earnings results on Monday. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.30, FiscalAI reports. The business had revenue of $193.09 million during the quarter, compared to the consensus estimate of $190.17 million. Phillips Edison & Company, Inc. had a return on equity of 5.52% and a net margin of 19.14%.

Phillips Edison & Company, Inc. Stock Performance

PECO stock traded up $0.24 during midday trading on Monday, reaching $38.60. 1,428,384 shares of the company’s stock traded hands, compared to its average volume of 980,951. The firm has a market capitalization of $4.97 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 2.30 and a beta of 0.52. The company has a 50-day moving average price of $38.25 and a two-hundred day moving average price of $39.91. Phillips Edison & Company, Inc. has a 52 week low of $33.10 and a 52 week high of $44.38.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be issued 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 payout ratio is presently 120.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PECO. Mizuho dropped their price target on Phillips Edison & Company, Inc. from $43.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. UBS Group decreased their price objective on Phillips Edison & Company, Inc. from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Friday, October 9th. The Goldman Sachs Group set a $44.00 price objective on Phillips Edison & Company, Inc. in a report on Wednesday, October 7th. Griffin Securities set a $44.00 price objective on Phillips Edison & Company, Inc. in a research note on Monday, September 21st. Finally, Weiss Ratings downgraded shares of Phillips Edison & Company, Inc. from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $43.20.

Phillips Edison & Company, Inc. Company Profile

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.