Phillips Edison & Company, Inc. (NASDAQ:PECO) Short Interest Down 16.2% in March

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 3,310,000 shares, a decrease of 16.2% from the March 15th total of 3,950,000 shares. Based on an average daily volume of 708,200 shares, the short-interest ratio is currently 4.7 days. Approximately 2.7% of the shares of the company are short sold.

Phillips Edison & Company, Inc. Stock Down 1.3 %

Shares of PECO stock traded down $0.45 on Monday, reaching $35.73. The company's stock had a trading volume of 43,921 shares, compared to its average volume of 698,207. The stock's 50 day simple moving average is $35.69 and its 200-day simple moving average is $36.95. 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 71.54, a PEG ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Research analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 246.00%.

Analyst Ratings Changes

PECO has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company cut their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, Mizuho lowered their price target 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of "Moderate Buy" and an average price target of $38.83.

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

A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its stake in shares of Phillips Edison & Company, Inc. by 78.1% during the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock valued at $27,000 after buying an additional 321 shares during the last quarter. CX Institutional bought a new stake in Phillips Edison & Company, Inc. in the first quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Phillips Edison & Company, Inc. by 79.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock valued at $50,000 after purchasing an additional 602 shares during the period. State of Wyoming bought a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter worth approximately $54,000. Finally, Allworth Financial LP grew its holdings in shares of Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company's stock worth $58,000 after purchasing an additional 788 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.