Phillips Edison & Company, Inc. (NASDAQ:PECO) Sees Significant Drop in Short Interest

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) saw a large decrease in short interest in January. As of January 15th, there was short interest totalling 1,900,000 shares, a decrease of 35.2% from the December 31st total of 2,930,000 shares. Based on an average daily volume of 676,300 shares, the short-interest ratio is presently 2.8 days. Approximately 1.6% of the company's shares are sold short.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the third quarter valued at approximately $36,000. Allworth Financial LP lifted its holdings in Phillips Edison & Company, Inc. by 94.6% during the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company's stock worth $58,000 after acquiring an additional 788 shares during the period. Blue Trust Inc. boosted its position in Phillips Edison & Company, Inc. by 15.5% in the third quarter. Blue Trust Inc. now owns 2,420 shares of the company's stock worth $91,000 after purchasing an additional 325 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Phillips Edison & Company, Inc. by 31.8% in the 3rd quarter. GAMMA Investing LLC now owns 3,330 shares of the company's stock valued at $126,000 after purchasing an additional 803 shares during the period. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Trading Down 1.0 %

Phillips Edison & Company, Inc. stock traded down $0.38 during trading on Friday, hitting $36.33. 503,737 shares of the company were exchanged, compared to its average volume of 521,533. The company has a market capitalization of $4.45 billion, a P/E ratio of 78.98, a PEG ratio of 3.17 and a beta of 0.59. The business's 50 day moving average is $37.67 and its 200 day moving average is $37.13. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were issued a $0.1025 dividend. The ex-dividend date was Monday, December 16th. This represents a dividend yield of 3.13%. This is an increase from Phillips Edison & Company, Inc.'s previous dividend of $0.10. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 267.39%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PECO. Wells Fargo & Company lowered their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an "equal weight" rating for the company in a report on Wednesday. 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 report on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price target on shares of 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. Finally, Wolfe Research raised shares of 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.50.

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.