Phillips Edison & Company, Inc. (NASDAQ:PECO) Receives $39.00 Consensus Price Target from Brokerages

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

PECO has been the subject of several recent analyst reports. Compass Point raised their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Mizuho raised their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Wednesday, November 13th.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO opened at $38.10 on Friday. The company has a market capitalization of $4.67 billion, a PE ratio of 82.83, a price-to-earnings-growth ratio of 3.60 and a beta of 0.57. The stock has a fifty day moving average of $38.46 and a 200-day moving average of $36.23. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12.

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

Phillips Edison & Company, Inc. Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.1025 per share. This is a boost from Phillips Edison & Company, Inc.’s previous dividend of $0.10. This represents a dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, December 16th. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.

Institutional Trading of Phillips Edison & Company, Inc.

Several hedge funds and other institutional investors have recently modified their holdings of PECO. V Square Quantitative Management LLC acquired a new position in Phillips Edison & Company, Inc. in the 3rd quarter worth about $28,000. 1620 Investment Advisors Inc. bought a new position in Phillips Edison & Company, Inc. during the second quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new stake in Phillips Edison & Company, Inc. in the third quarter valued at approximately $36,000. Blue Trust Inc. grew its position in Phillips Edison & Company, Inc. by 160.2% in the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after acquiring an additional 1,290 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth $107,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

About Phillips Edison & Company, Inc.

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.