Brokerages Set Phillips Edison & Company, Inc. (NASDAQ:PECO) PT at $37.50

Phillips Edison & Company, Inc. (NASDAQ:PECO) has received an average recommendation of “Hold” from the six research firms that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $37.50.

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Mizuho increased their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Compass Point boosted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $38.93 on Wednesday. The business has a fifty day moving average price of $35.39 and a 200 day moving average price of $34.06. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $39.00. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 84.63, a PEG ratio of 3.55 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $156.29 million. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 earnings per share. On average, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.16%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after buying an additional 577,445 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Phillips Edison & Company, Inc. by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock worth $68,308,000 after acquiring an additional 145,078 shares during the last quarter. Norges Bank acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at $48,562,000. Dimensional Fund Advisors LP raised its position in Phillips Edison & Company, Inc. by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock valued at $40,911,000 after purchasing an additional 179,775 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after purchasing an additional 826,891 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

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.