Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target Lowered to $37.00 at Wells Fargo & Company

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) had its target price cut by investment analysts at Wells Fargo & Company from $39.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would indicate a potential upside of 1.00% from the stock's previous close.

PECO has been the topic of a number of other research reports. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a report on Wednesday, November 13th. Mizuho increased their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. lowered their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO traded down $0.30 during midday trading on Wednesday, reaching $36.64. The company had a trading volume of 31,965 shares, compared to its average volume of 552,976. The company has a fifty day simple moving average of $37.83 and a two-hundred day simple moving average of $37.11. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 79.64, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12.

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

Several large investors have recently made changes to their positions in the company. M&T Bank Corp lifted its stake in Phillips Edison & Company, Inc. by 2.9% in the third quarter. M&T Bank Corp now owns 10,883 shares of the company's stock valued at $410,000 after acquiring an additional 307 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 15.5% during the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company's stock valued at $91,000 after purchasing an additional 325 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of 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 purchasing an additional 344 shares during the last quarter. Xponance Inc. boosted its holdings in Phillips Edison & Company, Inc. by 6.3% in the second quarter. Xponance Inc. now owns 7,789 shares of the company's stock worth $255,000 after purchasing an additional 465 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in Phillips Edison & Company, Inc. by 6.5% during the third quarter. Private Advisor Group LLC now owns 8,009 shares of the company's stock worth $302,000 after buying an additional 487 shares during the last quarter. Institutional investors own 80.70% of the company's stock.

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.

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