Wolfe Research Upgrades Phillips Edison & Company, Inc. (NASDAQ:PECO) to Outperform

Phillips Edison & Company, Inc. (NASDAQ:PECO) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has a $44.00 price target on the stock. Wolfe Research’s price target indicates a potential upside of 13.58% from the stock’s current price.

A number of other research firms have also recently issued reports on PECO. Mizuho upped their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Compass Point raised their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.43.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $38.74 on Wednesday. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.83. The stock’s fifty day moving average price is $37.63 and its two-hundred day moving average price is $34.98. The company has a market cap of $4.75 billion, a PE ratio of 84.22, a P/E/G ratio of 3.58 and a beta of 0.57.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PECO. V Square Quantitative Management LLC bought a new stake in Phillips Edison & Company, Inc. in the third quarter valued at approximately $28,000. 1620 Investment Advisors Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth $39,000. PFG Private Wealth Management LLC bought a new position in Phillips Edison & Company, Inc. during the second quarter worth $62,000. Finally, Blue Trust Inc. lifted its holdings 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 valued at $75,000 after buying an additional 1,290 shares during the period. 80.70% of the stock is owned by institutional investors and hedge funds.

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.