Phillips Edison & Company, Inc. (NASDAQ:PECO) Given New $36.00 Price Target at Wells Fargo & Company

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its target price decreased by equities researchers at Wells Fargo & Company from $37.00 to $36.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 0.87% from the company’s previous close.

PECO has been the topic of a number of other reports. Mizuho lowered their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Price Performance

NASDAQ PECO opened at $35.69 on Wednesday. The company’s fifty day moving average is $36.10 and its two-hundred day moving average is $37.27. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 71.38, a P/E/G ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. As a group, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth about $36,000. State of Wyoming acquired a new position in Phillips Edison & Company, Inc. in the fourth quarter valued at about $54,000. Allworth Financial LP boosted its position in Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after buying an additional 788 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in Phillips Edison & Company, Inc. during the fourth quarter worth about $68,000. Finally, FIL Ltd increased its holdings in shares of Phillips Edison & Company, Inc. by 17.8% during the fourth quarter. FIL Ltd now owns 2,155 shares of the company’s stock worth $81,000 after buying an additional 325 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

About Phillips Edison & Company, Inc.

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.