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 guidance of 0.510-0.550 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PECO. Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a buy rating and a $41.00 target price on the stock. JPMorgan Chase & Co. reduced 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 report on Wednesday, February 14th. Finally, Mizuho raised Phillips Edison & Company, Inc. from a neutral rating to a buy rating and increased their price target for the company from $35.00 to $37.00 in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $38.14.

Phillips Edison & Company, Inc. Price Performance

NASDAQ PECO traded down $0.30 during trading hours on Thursday, reaching $32.93. The company’s stock had a trading volume of 521,710 shares, compared to its average volume of 619,680. Phillips Edison & Company, Inc. has a 52 week low of $27.85 and a 52 week high of $37.92. The stock has a market cap of $4.02 billion, a P/E ratio of 71.63, a P/E/G ratio of 3.77 and a beta of 0.55. The firm has a fifty day simple moving average of $34.68 and a 200-day simple moving average of $35.05.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.0975 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.17 annualized dividend and a yield of 3.55%. 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 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.