Phillips Edison & Company, Inc. (NASDAQ:PECO) Given Average Rating of “Hold” by Brokerages

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) have been given a consensus recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $37.50.

A number of research analysts recently commented on PECO shares. Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Compass Point boosted their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th.

Phillips Edison & Company, Inc. Stock Up 1.8 %

Shares of NASDAQ:PECO opened at $37.81 on Thursday. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08. The company has a market cap of $4.63 billion, a PE ratio of 82.20, a P/E/G ratio of 3.44 and a beta of 0.57. The company’s 50-day moving average price is $37.21 and its 200 day moving average price is $34.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The business had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. As a group, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a $0.1025 dividend. 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 3.25%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. acquired a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at about $32,120,000. Cetera Investment Advisers increased 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 in the last quarter. Vanguard Group Inc. increased 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 purchasing an additional 577,445 shares in the last quarter. Cetera Advisors LLC grew its stake in shares of Phillips Edison & Company, Inc. by 60.4% during the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after acquiring an additional 297,945 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $8,397,000. 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.