Phillips Edison & Company, Inc. (NASDAQ:PECO) Short Interest Update

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,170,000 shares, a drop of 16.4% from the February 13th total of 3,790,000 shares. Based on an average daily trading volume, of 642,100 shares, the days-to-cover ratio is currently 4.9 days. Approximately 2.6% of the company's shares are sold short.

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

Institutional investors have recently made changes to their positions in the company. 111 Capital purchased a new stake in Phillips Edison & Company, Inc. in the fourth quarter worth about $241,000. Ameriflex Group Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $719,000. GF Fund Management CO. LTD. purchased a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth approximately $83,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 2.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 785,928 shares of the company's stock valued at $29,441,000 after purchasing an additional 20,106 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in Phillips Edison & Company, Inc. by 29.8% during the fourth quarter. Voloridge Investment Management LLC now owns 55,613 shares of the company's stock valued at $2,083,000 after buying an additional 12,777 shares during the period. Hedge funds and other institutional investors own 80.70% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Mizuho cut their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. Wells Fargo & Company reduced their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $39.00.

Phillips Edison & Company, Inc. Stock Down 0.9 %

PECO traded down $0.33 on Friday, reaching $34.93. 1,197,850 shares of the company traded hands, compared to its average volume of 608,794. The company has a market cap of $4.37 billion, a P/E ratio of 69.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12. The firm has a fifty day simple moving average of $36.09 and a two-hundred day simple moving average of $37.31.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s payout ratio is 246.00%.

Phillips Edison & Company, Inc. Company Profile

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.