Short Interest in Phillips Edison & Company, Inc. (NASDAQ:PECO) Increases By 32.0%

Phillips Edison & Company, Inc. (NASDAQ:PECO) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 4,290,000 shares, a growth of 32.0% from the August 31st total of 3,250,000 shares. Based on an average daily volume of 727,800 shares, the short-interest ratio is currently 5.9 days. Approximately 3.5% of the company’s stock are sold short.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Compass Point raised their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Mizuho upped their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.50.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock traded down $0.11 during trading hours on Friday, reaching $37.26. 903,524 shares of the company traded hands, compared to its average volume of 767,648. The firm has a 50-day moving average price of $36.28 and a 200 day moving average price of $34.22. The company has a market cap of $4.56 billion, a P/E ratio of 81.00, a P/E/G ratio of 3.64 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The firm had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 earnings per share. Sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. The ex-dividend date is Tuesday, October 15th. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 dividend on an annualized basis and a yield of 3.30%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

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

Large investors have recently made changes to their positions in the business. Centaurus Financial Inc. grew its position in shares of Phillips Edison & Company, Inc. by 3.5% during the second quarter. Centaurus Financial Inc. now owns 131,408 shares of the company’s stock worth $4,298,000 after purchasing an additional 4,498 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $2,695,000. Sanctuary Advisors LLC bought a new position in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $231,000. Teachers Retirement System of The State of Kentucky grew its holdings in Phillips Edison & Company, Inc. by 7.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 105,734 shares of the company’s stock valued at $3,458,000 after buying an additional 7,365 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the second quarter valued at approximately $220,000. 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.