Phillips Edison & Company, Inc. (NASDAQ:PECO) Receives $37.50 Consensus Price Target from Brokerages

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) has received an average recommendation of "Hold" from the six research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $37.50.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho raised 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. Finally, Compass Point increased their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Tuesday, September 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PECO. Coppell Advisory Solutions Corp. purchased a new position in shares of Phillips Edison & Company, Inc. during the first quarter worth approximately $607,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 67.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company's stock worth $2,541,000 after buying an additional 31,189 shares during the period. Cetera Investment Advisers increased its stake in shares of Phillips Edison & Company, Inc. by 240.9% during the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company's stock valued at $41,971,000 after buying an additional 826,891 shares during the period. UniSuper Management Pty Ltd lifted its stake in Phillips Edison & Company, Inc. by 86.3% in the first quarter. UniSuper Management Pty Ltd now owns 62,216 shares of the company's stock worth $2,232,000 after acquiring an additional 28,816 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at about $2,695,000. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Price Performance

PECO traded up $0.27 during midday trading on Thursday, reaching $38.08. 411,824 shares of the company's stock traded hands, compared to its average volume of 660,832. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 82.20, a P/E/G ratio of 3.44 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.08. The firm has a fifty day moving average of $37.21 and a two-hundred day moving average of $34.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.52). The business had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. Phillips Edison & Company, Inc.'s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. Sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.1025 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.23%. This is an increase from Phillips Edison & Company, Inc.'s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.'s payout ratio is currently 267.39%.

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.