Wells Fargo & Company Cuts Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $37.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its target price cut by research analysts at Wells Fargo & Company from $39.00 to $37.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 1.00% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Mizuho boosted their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Phillips Edison & Company, Inc. Trading Down 0.8 %

NASDAQ:PECO traded down $0.30 during mid-day trading on Wednesday, hitting $36.64. 31,965 shares of the company’s stock traded hands, compared to its average volume of 552,976. The firm has a 50 day moving average of $37.83 and a two-hundred day moving average of $37.11. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 79.64, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PECO. Barclays PLC increased its stake in Phillips Edison & Company, Inc. by 49.2% in the third quarter. Barclays PLC now owns 279,432 shares of the company’s stock valued at $10,538,000 after purchasing an additional 92,129 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock valued at $78,977,000 after purchasing an additional 102,519 shares during the period. Duff & Phelps Investment Management Co. grew its holdings in shares of Phillips Edison & Company, Inc. by 50.1% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after buying an additional 492,160 shares in the last quarter. Natixis Advisors LLC boosted its position in Phillips Edison & Company, Inc. by 132.6% during the 3rd quarter. Natixis Advisors LLC now owns 43,782 shares of the company’s stock worth $1,651,000 after acquiring an additional 24,963 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in Phillips Edison & Company, Inc. by 191.3% during the 3rd quarter. Verition Fund Management LLC now owns 22,802 shares of the company’s stock worth $860,000 after acquiring an additional 14,975 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.