Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target Cut to $40.00 by Analysts at JPMorgan Chase & Co.

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

Several other research firms also recently issued reports on PECO. Compass Point boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Wolfe Research raised 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 report on Wednesday, November 13th. Finally, Mizuho upped their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.50.

Phillips Edison & Company, Inc. Trading Down 0.7 %

NASDAQ PECO opened at $36.45 on Tuesday. The business’s 50-day moving average price is $38.60 and its 200 day moving average price is $36.73. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The company has a market capitalization of $4.47 billion, a PE ratio of 79.24, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59.

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

Phillips Edison & Company, Inc. Increases Dividend

The business 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. The ex-dividend date was Monday, December 16th. This represents a dividend yield of 3.13%. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PECO. Rhumbline Advisers lifted its position in shares of Phillips Edison & Company, Inc. by 1.2% during the second quarter. Rhumbline Advisers now owns 402,078 shares of the company’s stock worth $13,152,000 after purchasing an additional 4,838 shares during the last quarter. Arizona State Retirement System raised its position in shares of Phillips Edison & Company, Inc. by 4.1% during the 2nd quarter. Arizona State Retirement System now owns 34,224 shares of the company’s stock valued at $1,119,000 after acquiring an additional 1,355 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Phillips Edison & Company, Inc. by 2.5% during the second quarter. J.W. Cole Advisors Inc. now owns 72,611 shares of the company’s stock worth $2,375,000 after purchasing an additional 1,740 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in Phillips Edison & Company, Inc. in the second quarter worth $2,944,000. Finally, Dimensional Fund Advisors LP increased its stake in Phillips Edison & Company, Inc. by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock valued at $40,911,000 after purchasing an additional 179,775 shares during the last quarter. 80.70% of the stock is 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.