Phillips Edison & Company, Inc. (NASDAQ:PECO) Given Consensus Rating of “Hold” by Brokerages

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) have been given a consensus rating of “Hold” by the eight analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $38.14.

A number of brokerages have issued reports on PECO. JPMorgan Chase & Co. decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price target for the company. Compass Point cut their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Finally, Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $35.00 to $37.00 in a report on Friday, February 23rd.

Phillips Edison & Company, Inc. Trading Down 1.0 %

Shares of NASDAQ:PECO opened at $33.10 on Thursday. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 71.96, a PEG ratio of 3.92 and a beta of 0.59. Phillips Edison & Company, Inc. has a 12 month low of $27.85 and a 12 month high of $37.92. The company has a 50-day moving average price of $34.36 and a 200 day moving average price of $34.97.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.0975 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $48,562,000. GRS Advisors LLC bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter valued at $26,042,000. Vanguard Group Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company’s stock worth $684,350,000 after buying an additional 266,832 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Phillips Edison & Company, Inc. by 33.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 918,665 shares of the company’s stock worth $33,513,000 after buying an additional 232,191 shares during the period. Finally, FMR LLC grew its position in shares of Phillips Edison & Company, Inc. by 4.0% during the 3rd quarter. FMR LLC now owns 4,874,206 shares of the company’s stock worth $163,481,000 after buying an additional 186,651 shares in the last quarter. 80.70% of the stock is currently owned by 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.