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

Wolfe Research upgraded shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) from a peer perform rating to an outperform rating in a research note released on Wednesday morning, Marketbeat reports. The firm currently has $44.00 price objective on the stock.

Several other research analysts have also commented on PECO. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point raised their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, Mizuho boosted their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.43.

Phillips Edison & Company, Inc. Trading Up 1.0 %

Shares of PECO opened at $39.01 on Wednesday. The company’s 50-day moving average price is $37.67 and its 200 day moving average price is $35.04. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.83. The firm has a market cap of $4.78 billion, a P/E ratio of 84.80, a price-to-earnings-growth ratio of 3.58 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) 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 company had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period last year, the firm posted $0.58 earnings per share. Phillips Edison & Company, Inc.’s revenue was up 8.5% on a year-over-year basis. Equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Institutional Trading of Phillips Edison & Company, Inc.

A number of large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Phillips Edison & Company, Inc. in the third quarter worth approximately $28,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth $26,000. Legacy Investment Solutions LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter worth $36,000. Hobbs Group Advisors LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the second quarter worth $39,000. Finally, PFG Private Wealth Management LLC purchased a new position in Phillips Edison & Company, Inc. in the second quarter valued at $62,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

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.