Wells Fargo & Company Lowers Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $36.00

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) had its price objective dropped by investment analysts at Wells Fargo & Company from $37.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 0.11% from the stock's current price.

Other analysts have also recently issued reports about the company. 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. JPMorgan Chase & Co. decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of "Moderate Buy" and an average price target of $38.83.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ PECO traded up $0.27 during mid-day trading on Wednesday, reaching $35.96. The company's stock had a trading volume of 733,580 shares, compared to its average volume of 668,855. The stock has a 50-day moving average of $36.10 and a two-hundred day moving average of $37.26. The stock has a market capitalization of $4.50 billion, a P/E ratio of 71.92, a P/E/G ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12.

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Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) 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%. Analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PECO. Arizona State Retirement System grew its holdings in shares of Phillips Edison & Company, Inc. by 0.8% during the fourth quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock worth $1,331,000 after buying an additional 290 shares during the last quarter. M&T Bank Corp raised its stake in shares of Phillips Edison & Company, Inc. by 2.9% during the third quarter. M&T Bank Corp now owns 10,883 shares of the company's stock worth $410,000 after purchasing an additional 307 shares during the last quarter. FIL Ltd lifted its holdings in shares of Phillips Edison & Company, Inc. by 17.8% during the fourth quarter. FIL Ltd now owns 2,155 shares of the company's stock worth $81,000 after purchasing an additional 325 shares during the period. State of Alaska Department of Revenue grew its position in Phillips Edison & Company, Inc. by 0.3% in the 4th quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock valued at $4,811,000 after buying an additional 344 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Phillips Edison & Company, Inc. by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company's stock valued at $756,000 after buying an additional 510 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

About Phillips Edison & Company, Inc.

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.