Phillips Edison & Company, Inc. (NASDAQ:PECO) Receives $38.83 Average PT from Brokerages

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $38.83.

A number of brokerages recently issued reports on PECO. Mizuho decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Wells Fargo & Company dropped their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. reduced their price objective 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.

Phillips Edison & Company, Inc. Trading Down 3.0 %

Shares of NASDAQ PECO opened at $34.98 on Friday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The firm has a 50-day moving average of $36.12 and a two-hundred day moving average of $37.19. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 69.96, a PEG ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. As a group, research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.52%. Phillips Edison & Company, Inc.’s dividend payout ratio is 246.00%.

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors have recently made changes to their positions in PECO. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $468,000. Citigroup Inc. boosted its position in Phillips Edison & Company, Inc. by 44.6% during the third quarter. Citigroup Inc. now owns 177,569 shares of the company’s stock valued at $6,696,000 after purchasing an additional 54,800 shares during the last quarter. Bank of Montreal Can grew its stake in Phillips Edison & Company, Inc. by 609.1% in the third quarter. Bank of Montreal Can now owns 89,300 shares of the company’s stock valued at $3,327,000 after purchasing an additional 76,706 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Phillips Edison & Company, Inc. by 1.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,608 shares of the company’s stock worth $2,097,000 after purchasing an additional 885 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Phillips Edison & Company, Inc. by 408.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company’s stock worth $28,879,000 after purchasing an additional 615,076 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

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.