Phillips Edison & Company, Inc. (NASDAQ:PECO) Receives $39.00 Average Price Target from Brokerages

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $39.00.

A number of research firms recently issued reports on PECO. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point raised their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, Mizuho upped their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $38.22 on Friday. The company has a market capitalization of $4.69 billion, a P/E ratio of 83.09, a P/E/G ratio of 3.60 and a beta of 0.57. The business has a fifty day simple moving average of $38.48 and a two-hundred day simple moving average of $36.31. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

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 analysts’ consensus estimates of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.1025 per share. This is a positive change from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date is Monday, December 16th. This represents a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

A number of institutional investors have recently made changes to their positions in PECO. Brass Tax Wealth Management Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $378,000. Synovus Financial Corp bought a new position in Phillips Edison & Company, Inc. during the 3rd quarter valued at approximately $376,000. Arete Wealth Advisors LLC lifted its holdings in Phillips Edison & Company, Inc. by 3.1% in the 3rd quarter. Arete Wealth Advisors LLC now owns 28,392 shares of the company’s stock worth $1,064,000 after buying an additional 866 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Phillips Edison & Company, Inc. by 3.6% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 109,531 shares of the company’s stock worth $4,131,000 after buying an additional 3,797 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Phillips Edison & Company, Inc. by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock valued at $120,347,000 after buying an additional 19,205 shares during the period. 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.