Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) from an underweight rating to an equal weight rating in a report published on Wednesday morning, MarketBeat reports. Wells Fargo & Company currently has $37.00 target price on the stock, up from their prior target price of $34.00.
Several other analysts also recently commented on the company. Mizuho raised their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an outperform rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating for the company in a research note on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $37.33.
Check Out Our Latest Stock Analysis on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Trading Up 0.2 %
Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.48). The firm had revenue of $161.52 million during the quarter, compared to analyst estimates of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. Equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.41 EPS for the current fiscal year.
Phillips Edison & Company, Inc. Cuts Dividend
The business also recently declared a monthly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.097 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.16%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 254.35%.
Hedge Funds Weigh In On Phillips Edison & Company, Inc.
Hedge funds have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. acquired a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at about $26,000. Creekmur Asset Management LLC acquired a new position in Phillips Edison & Company, Inc. during the 4th quarter valued at about $32,000. Quadrant Capital Group LLC boosted its stake in Phillips Edison & Company, Inc. by 197.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,190 shares of the company’s stock valued at $43,000 after purchasing an additional 790 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $39,000. Finally, PFG Private Wealth Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 80.70% of the company’s stock.
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.
See Also
- Five stocks we like better than Phillips Edison & Company, Inc.
- Profitably Trade Stocks at 52-Week Highs
- BHP Stock: The Under-the-Radar Growth Story in Commodities
- Retail Stocks Investing, Explained
- Analysts Upgrade These 3 Hot Buy-and-Hold Stocks
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Kohl’s Charts a Resilient Path in a Challenging Retail Landscape
Receive News & Ratings for Phillips Edison & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips Edison & Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.