Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target Raised to $46.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price objective lifted by JPMorgan Chase & Co. from $41.00 to $46.00 in a research report report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research firms have also issued reports on PECO. Morgan Stanley increased their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Weiss Ratings raised shares of Phillips Edison & Company, Inc. from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 23rd. Evercore reiterated an “outperform” rating and issued a $44.00 price objective on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, July 7th. Griffin Securities set a $47.00 target price on shares of Phillips Edison & Company, Inc. in a research report on Monday, July 27th. Finally, LADENBURG THALM/SH SH lifted their target price on shares of Phillips Edison & Company, Inc. from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.67.

Phillips Edison & Company, Inc. Trading Down 2.1%

Shares of PECO stock opened at $40.72 on Tuesday. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 35.41, a P/E/G ratio of 2.16 and a beta of 0.52. Phillips Edison & Company, Inc. has a 1-year low of $32.84 and a 1-year high of $44.38. The stock’s fifty day simple moving average is $41.80 and its 200-day simple moving average is $39.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.35). Phillips Edison & Company, Inc. had a return on equity of 5.52% and a net margin of 19.14%.The business had revenue of $189.62 million during the quarter, compared to analysts’ expectations of $187.46 million. During the same period in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2026 guidance at 0.950-0.970 EPS. On average, sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.76 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.1083 per share. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, August 17th. Phillips Edison & Company, Inc.’s payout ratio is currently 113.04%.

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

A number of hedge funds have recently added to or reduced their stakes in PECO. State Street Corp increased its stake in shares of Phillips Edison & Company, Inc. by 2.3% during the 2nd quarter. State Street Corp now owns 7,349,080 shares of the company’s stock worth $258,169,000 after purchasing an additional 166,108 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Phillips Edison & Company, Inc. by 5.4% in the 4th quarter. Wellington Management Group LLP now owns 6,308,034 shares of the company’s stock valued at $224,377,000 after purchasing an additional 325,215 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Phillips Edison & Company, Inc. by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,322,844 shares of the company’s stock worth $82,624,000 after purchasing an additional 86,749 shares in the last quarter. Norges Bank bought a new stake in Phillips Edison & Company, Inc. in the fourth quarter worth $70,850,000. Finally, Dimensional Fund Advisors LP increased its position in Phillips Edison & Company, Inc. by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,899,214 shares of the company’s stock worth $71,068,000 after buying an additional 74,274 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 is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company’s investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.

In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.