Wells Fargo & Company Cuts Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $37.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price objective reduced by investment analysts at Wells Fargo & Company from $39.00 to $37.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 0.79% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research report on Wednesday, November 13th. Mizuho raised their price objective 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. Finally, JPMorgan Chase & Co. decreased 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Phillips Edison & Company, Inc. Stock Up 1.2 %

Shares of PECO opened at $36.71 on Wednesday. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 79.80, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The stock has a 50 day moving average price of $37.73 and a 200 day moving average price of $37.10.

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

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of Phillips Edison & Company, Inc. by 49.2% in the 3rd quarter. Barclays PLC now owns 279,432 shares of the company’s stock valued at $10,538,000 after purchasing an additional 92,129 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Phillips Edison & Company, Inc. by 5.1% in 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. grew its position in Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock valued at $55,589,000 after buying an additional 492,160 shares during the last quarter. Natixis Advisors LLC increased its stake in Phillips Edison & Company, Inc. by 132.6% in the 3rd quarter. Natixis Advisors LLC now owns 43,782 shares of the company’s stock valued at $1,651,000 after buying an additional 24,963 shares during the period. Finally, Verition Fund Management LLC raised its position in Phillips Edison & Company, Inc. by 191.3% during the 3rd quarter. Verition Fund Management LLC now owns 22,802 shares of the company’s stock worth $860,000 after buying an additional 14,975 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 & 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.