Brokerages Set Phillips Edison & Company, Inc. (NASDAQ:PECO) Target Price at $37.50

Phillips Edison & Company, Inc. (NASDAQ:PECO) has been assigned an average rating of “Hold” from the six analysts that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.50.

A number of research analysts have recently commented on PECO shares. Compass Point increased their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Mizuho increased their price objective 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. Finally, Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Phillips Edison & Company, Inc. by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock valued at $693,619,000 after buying an additional 577,445 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Phillips Edison & Company, Inc. by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after acquiring an additional 179,775 shares during the period. Cetera Investment Advisers boosted its holdings in 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 acquiring an additional 826,891 shares during the last quarter. Bank of New York Mellon Corp increased its position in Phillips Edison & Company, Inc. by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company’s stock valued at $36,186,000 after purchasing an additional 27,611 shares during the period. Finally, Duff & Phelps Investment Management Co. acquired a new stake in Phillips Edison & Company, Inc. during the 2nd quarter valued at approximately $32,120,000. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

NASDAQ PECO opened at $36.19 on Friday. The business has a fifty day moving average price of $36.58 and a two-hundred day moving average price of $34.28. The stock has a market capitalization of $4.43 billion, a PE ratio of 78.67, a PEG ratio of 3.47 and a beta of 0.57. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data 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). The business had revenue of $161.52 million for 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%. Phillips Edison & Company, Inc.’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, October 15th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 267.39%.

Phillips Edison & Company, Inc. Company Profile

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.