Wells Fargo & Company Issues Pessimistic Forecast for Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target cut by Wells Fargo & Company from $37.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 0.87% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Mizuho dropped their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Stock Down 0.8 %

Shares of NASDAQ:PECO opened at $35.69 on Wednesday. The firm has a fifty day moving average of $36.10 and a two-hundred day moving average of $37.27. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The firm has a market capitalization of $4.47 billion, a P/E ratio of 71.38, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Equities research analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

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

A number of institutional investors have recently modified their holdings of PECO. Legacy Investment Solutions LLC acquired a new position in Phillips Edison & Company, Inc. in the 3rd quarter valued at $36,000. State of Wyoming bought a new stake in Phillips Edison & Company, Inc. during the fourth quarter valued at about $54,000. Allworth Financial LP grew its position in shares of Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after purchasing an additional 788 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at about $68,000. Finally, FIL Ltd increased its stake in shares of Phillips Edison & Company, Inc. by 17.8% in the fourth quarter. FIL Ltd now owns 2,155 shares of the company’s stock worth $81,000 after purchasing an additional 325 shares during the period. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.