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

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) have been given an average rating of “Hold” by the six brokerages that are covering the company, Marketbeat.com 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 price objective among brokers that have covered the stock in the last year is $37.50.

A number of equities analysts have recently issued reports on PECO shares. 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. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th.

Phillips Edison & Company, Inc. Trading Down 0.7 %

Shares of NASDAQ PECO opened at $35.95 on Friday. The business has a 50-day moving average of $36.62 and a 200-day moving average of $34.31. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 78.15, a PEG ratio of 3.47 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.

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). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The company had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. During the same period in the previous year, the company earned $0.59 EPS. Phillips Edison & Company, Inc.’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.23 annualized dividend and a yield of 3.42%. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

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

Several institutional investors have recently added to or reduced their stakes in PECO. Illinois Municipal Retirement Fund raised its stake in shares of Phillips Edison & Company, Inc. by 0.6% during the first quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company’s stock valued at $2,423,000 after acquiring an additional 372 shares during the last quarter. Xponance Inc. raised its position in Phillips Edison & Company, Inc. by 6.3% during the 2nd quarter. Xponance Inc. now owns 7,789 shares of the company’s stock valued at $255,000 after purchasing an additional 465 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in Phillips Edison & Company, Inc. by 1.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 43,970 shares of the company’s stock worth $1,577,000 after buying an additional 502 shares during the period. Accel Wealth Management grew its position in shares of Phillips Edison & Company, Inc. by 2.3% in the 1st quarter. Accel Wealth Management now owns 31,142 shares of the company’s stock worth $1,117,000 after buying an additional 686 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 1.1% during the first quarter. American International Group Inc. now owns 65,003 shares of the company’s stock valued at $2,332,000 after buying an additional 699 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

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.