Wells Fargo & Company Has Lowered Expectations for Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price objective trimmed by Wells Fargo & Company from $37.00 to $36.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

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

Phillips Edison & Company, Inc. Stock Up 0.8 %

Shares of Phillips Edison & Company, Inc. stock opened at $35.96 on Wednesday. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 71.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The company’s 50 day moving average is $36.10 and its 200 day moving average is $37.26. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share 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%. Sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 annualized dividend and a yield of 3.42%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 246.00%.

Institutional Trading of Phillips Edison & Company, Inc.

Several hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in Phillips Edison & Company, Inc. during the fourth quarter valued at approximately $488,000. Barclays PLC boosted its stake in Phillips Edison & Company, Inc. by 49.2% during the third quarter. Barclays PLC now owns 279,432 shares of the company’s stock worth $10,538,000 after buying an additional 92,129 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock valued at $80,371,000 after acquiring an additional 51,186 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after acquiring an additional 492,160 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Phillips Edison & Company, Inc. by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 595,165 shares of the company’s stock worth $22,295,000 after purchasing an additional 17,235 shares during the period. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

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.