Phillips Edison & Company, Inc. (NASDAQ:PECO) Upgraded to Outperform at Wolfe Research

Wolfe Research upgraded shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) from a peer perform rating to an outperform rating in a report released on Wednesday morning, Marketbeat reports. The firm currently has $44.00 price objective on the stock.

Several other equities research analysts have also weighed in on the company. Compass Point raised their target price on 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. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Mizuho lifted their price target 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.43.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $39.11 on Wednesday. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.83. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 85.02, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57. The business’s 50 day moving average price is $37.60 and its 200-day moving average price is $34.95.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results 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 company 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 firm’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business earned $0.58 earnings per share. On average, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Institutional Trading of Phillips Edison & Company, Inc.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. acquired a new stake in Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $26,000. V Square Quantitative Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth $28,000. Hobbs Group Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth $39,000. PFG Private Wealth Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the second quarter worth $62,000. Finally, Blue Trust Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after acquiring an additional 1,290 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

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.