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

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 1,900,000 shares, a decline of 35.2% from the December 15th total of 2,930,000 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 676,300 shares, the short-interest ratio is currently 2.8 days.

Phillips Edison & Company, Inc. Stock Up 0.5 %

Shares of NASDAQ PECO traded up $0.19 during trading on Tuesday, hitting $35.84. 638,145 shares of the company traded hands, compared to its average volume of 658,593. The firm has a market capitalization of $4.39 billion, a P/E ratio of 77.91, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a 50-day moving average price of $38.40 and a 200-day moving average price of $36.86. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate 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 earnings per share. The business's revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PECO. Mizuho raised their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Wolfe Research raised 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. Finally, 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 on the stock in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.50.

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

A number of large investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in Phillips Edison & Company, Inc. by 0.3% during the 3rd quarter. State Street Corp now owns 7,068,684 shares of the company's stock worth $267,289,000 after buying an additional 18,429 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Phillips Edison & Company, Inc. by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company's stock worth $120,347,000 after buying an additional 19,205 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Phillips Edison & Company, Inc. by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company's stock valued at $78,977,000 after buying an additional 102,519 shares during the last quarter. Duff & Phelps Investment Management Co. raised its stake in Phillips Edison & Company, Inc. by 50.1% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company's stock worth $55,589,000 after acquiring an additional 492,160 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Phillips Edison & Company, Inc. by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company's stock worth $40,911,000 after acquiring an additional 179,775 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company's stock.

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.