Brokerages Set Phillips Edison & Company, Inc. (NASDAQ:PECO) Target Price at $39.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $39.00.

A number of equities research analysts recently commented on the stock. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Mizuho upped their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $38.52 on Friday. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The company has a market capitalization of $4.72 billion, a PE ratio of 83.74, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The business has a fifty day moving average price of $38.55 and a two-hundred day moving average price of $36.38.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted 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). The company had revenue of $165.50 million for 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%. Phillips Edison & Company, Inc.’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS. Sell-side 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 business also recently announced a dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.1025 per share. This represents a yield of 3.13%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

Institutional Trading of Phillips Edison & Company, Inc.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in shares of Phillips Edison & Company, Inc. by 0.3% during the 3rd quarter. State Street Corp now owns 7,068,684 shares of the company’s stock valued at $267,289,000 after purchasing an additional 18,429 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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. Charles Schwab Investment Management Inc. grew its position in Phillips Edison & Company, Inc. by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after buying an additional 102,519 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake in Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after acquiring an additional 492,160 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Phillips Edison & Company, Inc. by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock valued at $40,911,000 after acquiring an additional 179,775 shares in the last quarter. Institutional investors 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.