Phillips Edison & Company, Inc. (NASDAQ:PECO) Given Average Recommendation of “Hold” by Brokerages

Phillips Edison & Company, Inc. (NASDAQ:PECO) has been given an average rating of “Hold” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $37.43.

Several equities analysts have weighed in on the company. Compass Point lowered their target price on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, April 29th. Wells Fargo & Company lowered their price target on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Tuesday, May 28th. Mizuho reduced their target price on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th.

Institutional Trading of Phillips Edison & Company, Inc.

Several large investors have recently made changes to their positions in PECO. Cetera Advisors LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 60.4% during the first quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock valued at $28,378,000 after acquiring an additional 297,945 shares during the period. Cetera Investment Advisers grew its holdings in shares of Phillips Edison & Company, Inc. by 240.9% during the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after buying an additional 826,891 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in Phillips Edison & Company, Inc. in the first quarter valued at approximately $607,000. B. Riley Wealth Advisors Inc. grew its stake in Phillips Edison & Company, Inc. by 4.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 18,081 shares of the company’s stock valued at $608,000 after purchasing an additional 699 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Phillips Edison & Company, Inc. by 15,338.0% in the first quarter. Public Employees Retirement System of Ohio now owns 175,376 shares of the company’s stock valued at $6,291,000 after buying an additional 174,240 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $32.52 on Friday. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $37.92. The stock’s 50-day moving average is $32.30 and its two-hundred day moving average is $34.27. The stock has a market cap of $3.98 billion, a PE ratio of 70.70, a price-to-earnings-growth ratio of 3.26 and a beta of 0.56.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be issued a dividend of $0.0975 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, July 15th. Phillips Edison & Company, Inc.’s payout ratio is presently 254.35%.

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.