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

Phillips Edison & Company, Inc. (NASDAQ:PECO) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.510-0.550 for the period, compared to the consensus 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. Stock Down 1.0 %

Shares of Phillips Edison & Company, Inc. stock traded down $0.32 during trading 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 company has a 50-day simple moving average of $34.60 and a two-hundred day simple moving average of $35.04. Phillips Edison & Company, Inc. has a 1-year low of $27.85 and a 1-year high of $37.92. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 70.89, a P/E/G ratio of 3.69 and a beta of 0.55.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid 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 dividend yield of 3.59%. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PECO shares. Deutsche Bank Aktiengesellschaft started coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They issued a buy rating and a $41.00 price objective on the stock. Mizuho raised Phillips Edison & Company, Inc. from a neutral rating to a buy rating and boosted their target price for the company from $35.00 to $37.00 in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. cut their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a neutral rating on the stock in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average 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.