JPMorgan Chase & Co. Issues Pessimistic Forecast for Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price objective trimmed by JPMorgan Chase & Co. from $41.00 to $40.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the stock. Mizuho raised their price target 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. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Finally, Compass Point lifted their target price on 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock opened at $36.60 on Tuesday. The business’s 50 day moving average price is $38.55 and its 200 day moving average price is $36.73. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 79.57, a PEG ratio of 3.60 and a beta of 0.59. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12.

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

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were given a dividend of $0.1025 per share. This is a positive change from Phillips Edison & Company, Inc.’s previous dividend of $0.10. This represents a dividend yield of 3.13%. The ex-dividend date was Monday, December 16th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

A number of institutional investors have recently modified their holdings of PECO. Brass Tax Wealth Management Inc. purchased a new position in Phillips Edison & Company, Inc. during the 3rd quarter valued at about $378,000. Synovus Financial Corp acquired a new position in shares of Phillips Edison & Company, Inc. in the third quarter valued at approximately $376,000. Arete Wealth Advisors LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 3.1% in the third quarter. Arete Wealth Advisors LLC now owns 28,392 shares of the company’s stock valued at $1,064,000 after purchasing an additional 866 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Phillips Edison & Company, Inc. by 3.6% during 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 period. Finally, Geode Capital Management LLC lifted its holdings in Phillips Edison & Company, Inc. by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock worth $120,347,000 after buying an additional 19,205 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

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.