Phillips Edison & Company, Inc. (NASDAQ:PECO) Raised to Outperform at Wolfe Research

Wolfe Research upgraded shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) from a peer perform rating to an outperform rating in a report published on Wednesday morning, Marketbeat Ratings reports. They currently have $44.00 price target on the stock.

PECO has been the subject of a number of other reports. Mizuho boosted their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Compass Point upped their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $38.43.

Phillips Edison & Company, Inc. Stock Performance

Phillips Edison & Company, Inc. stock traded up $0.29 during midday trading on Wednesday, reaching $39.32. 330,024 shares of the company were exchanged, compared to its average volume of 667,786. The firm's 50-day simple moving average is $37.56 and its 200-day simple moving average is $34.92. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $39.83. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 85.57, a P/E/G ratio of 3.58 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. During the same period in the prior year, the firm earned $0.58 EPS. The business's quarterly revenue was up 8.5% on a year-over-year basis. On average, analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.'s payout ratio is 267.39%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Duff & Phelps Investment Management Co. purchased a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at about $32,120,000. Cetera Investment Advisers boosted its stake in shares of Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company's stock valued at $41,971,000 after buying an additional 826,891 shares during the period. Vanguard Group Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company's stock valued at $693,619,000 after acquiring an additional 577,445 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 60.4% during the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company's stock valued at $28,378,000 after acquiring an additional 297,945 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the second quarter worth $8,397,000. 80.70% of the stock is owned by institutional investors and hedge funds.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.