JPMorgan Chase & Co. Lowers Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $40.00

Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) had its price target reduced by JPMorgan Chase & Co. from $41.00 to $40.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently issued reports on PECO. Wolfe Research raised Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a research note on Wednesday, November 13th. Mizuho increased their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Finally, Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $39.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock traded down $0.24 during mid-day trading on Tuesday, hitting $36.45. 714,387 shares of the stock were exchanged, compared to its average volume of 538,072. The company has a 50-day simple moving average of $38.61 and a 200 day simple moving average of $36.71. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The company has a market capitalization of $4.47 billion, a P/E ratio of 79.24, a P/E/G ratio of 3.60 and a beta of 0.59.

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

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.1025 per share. This represents a yield of 3.13%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Phillips Edison & Company, Inc.'s previous dividend of $0.10. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 267.39%.

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

A number of institutional investors have recently added to or reduced their stakes in PECO. Duff & Phelps Investment Management Co. bought a new position in shares of Phillips Edison & Company, Inc. in the second quarter worth $32,120,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 408.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company's stock worth $28,879,000 after acquiring an additional 615,076 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth approximately $8,397,000. Dimensional Fund Advisors LP lifted its holdings in Phillips Edison & Company, Inc. by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company's stock valued at $40,911,000 after purchasing an additional 179,775 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Phillips Edison & Company, Inc. by 578.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company's stock worth $5,247,000 after purchasing an additional 118,640 shares during the last quarter. 80.70% of the stock is owned by institutional investors.

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.