Phillips Edison & Company, Inc. (NASDAQ:PECO) Upgraded to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) 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.

Phillips Edison & Company, Inc. Trading Up 0.2 %

Shares of Phillips Edison & Company, Inc. stock opened at $36.88 on Wednesday. The business has a 50-day moving average price of $34.22 and a two-hundred day moving average price of $33.83. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $37.92. The company has a market cap of $4.51 billion, a P/E ratio of 80.17, a PEG ratio of 3.32 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO) 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.