Phillips Edison & Company, Inc. (NASDAQ:PECO) PT Raised to $37.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price objective hoisted by Compass Point from $36.00 to $37.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Wells Fargo & Company upgraded 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. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Finally, Mizuho boosted their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an outperform rating in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Stock Performance

Phillips Edison & Company, Inc. stock opened at $38.93 on Tuesday. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.00. The stock has a market cap of $4.77 billion, a PE ratio of 84.63, a price-to-earnings-growth ratio of 3.55 and a beta of 0.57. The firm’s 50-day simple moving average is $35.39 and its 200 day simple moving average is $34.06.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $156.29 million. During the same quarter last year, the firm posted $0.59 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.41 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a $0.1025 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.16%. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

Institutional Trading of Phillips Edison & Company, Inc.

Hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. raised its position in shares of Phillips Edison & Company, Inc. by 11.6% in the fourth quarter. NBC Securities Inc. now owns 9,670 shares of the company’s stock valued at $352,000 after purchasing an additional 1,003 shares during the period. GRS Advisors LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $26,042,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at approximately $607,000. Harbor Capital Advisors Inc. raised its position in shares of Phillips Edison & Company, Inc. by 67.1% in the second quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock valued at $2,541,000 after purchasing an additional 31,189 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after purchasing an additional 826,891 shares during the period. Institutional investors own 80.70% of the company’s stock.

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.