Phillips Edison & Company, Inc. (NASDAQ:PECO) Short Interest Up 24.6% in March

Phillips Edison & Company, Inc. (NASDAQ:PECO) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,950,000 shares, an increase of 24.6% from the February 28th total of 3,170,000 shares. Approximately 3.2% of the company’s stock are sold short. Based on an average daily volume of 630,500 shares, the days-to-cover ratio is presently 6.3 days.

Wall Street Analysts Forecast Growth

PECO has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Mizuho reduced their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Trading Up 1.3 %

NASDAQ:PECO traded up $0.47 during trading hours on Wednesday, hitting $37.33. The company’s stock had a trading volume of 763,057 shares, compared to its average volume of 673,070. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The stock has a market capitalization of $4.67 billion, a P/E ratio of 74.66, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The stock has a fifty day moving average of $36.12 and a 200-day moving average of $37.23.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.62 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%. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.’s payout ratio is currently 246.00%.

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

Hedge funds have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its position in Phillips Edison & Company, Inc. by 79.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company’s stock worth $50,000 after purchasing an additional 602 shares during the last quarter. 111 Capital purchased a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at approximately $241,000. Ameriflex Group Inc. acquired a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $719,000. GF Fund Management CO. LTD. purchased a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth approximately $83,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 2.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 785,928 shares of the company’s stock worth $29,441,000 after purchasing an additional 20,106 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.