Mizuho Cuts Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $33.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target reduced by Mizuho from $37.00 to $33.00 in a research note issued to investors on Thursday, Benzinga reports. Mizuho currently has a buy rating on the stock.

A number of other brokerages have also issued reports on PECO. Compass Point reduced their target price on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a neutral rating for the company in a research note on Monday, April 29th. JPMorgan Chase & Co. reduced their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a neutral rating for the company in a research note on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a buy rating and a $41.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $37.57.

Phillips Edison & Company, Inc. Trading Down 0.3 %

Shares of Phillips Edison & Company, Inc. stock opened at $31.43 on Thursday. The firm’s 50 day simple moving average is $33.51 and its two-hundred day simple moving average is $34.80. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 68.33, a PEG ratio of 3.19 and a beta of 0.59. Phillips Edison & Company, Inc. has a 12-month low of $27.85 and a 12-month high of $37.92.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.0975 per share. The ex-dividend date is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.72%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

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

Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in shares of Phillips Edison & Company, Inc. by 46.4% in the third quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock worth $29,000 after acquiring an additional 275 shares during the period. Creekmur Asset Management LLC acquired a new position in Phillips Edison & Company, Inc. in the 4th quarter worth about $32,000. Quadrant Capital Group LLC boosted its position in Phillips Edison & Company, Inc. by 197.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,190 shares of the company’s stock worth $43,000 after purchasing an additional 790 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Phillips Edison & Company, Inc. by 207.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,543 shares of the company’s stock valued at $56,000 after purchasing an additional 1,041 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $73,000. 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.