Phillips Edison & Company, Inc. (NASDAQ:PECO) Receives $37.50 Average Price Target from Brokerages

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) have been assigned a consensus rating of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $37.50.

Several brokerages have issued reports on PECO. Deutsche Bank Aktiengesellschaft lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Mizuho boosted their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Compass Point upped their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

Several institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in Phillips Edison & Company, Inc. during the 2nd quarter valued at about $2,695,000. Sanctuary Advisors LLC bought a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at approximately $231,000. Teachers Retirement System of The State of Kentucky raised its position in Phillips Edison & Company, Inc. by 7.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 105,734 shares of the company’s stock valued at $3,458,000 after purchasing an additional 7,365 shares during the last quarter. Kimelman & Baird LLC bought a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at approximately $220,000. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Phillips Edison & Company, Inc. by 21.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 21,900 shares of the company’s stock worth $719,000 after acquiring an additional 3,819 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Down 1.0 %

Shares of NASDAQ:PECO opened at $38.49 on Wednesday. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 83.68, a PEG ratio of 3.64 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.08. The business’s 50 day moving average is $35.65 and its 200 day moving average is $34.09.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The business had revenue of $161.52 million for the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. As a group, equities research analysts expect that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a dividend of $0.1025 per share. The ex-dividend date is Monday, September 16th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 annualized dividend and a yield of 3.20%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

Phillips Edison & Company, Inc. Company Profile

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.