Wells Fargo & Company Cuts Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $36.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target trimmed by Wells Fargo & Company from $37.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

PECO has been the topic of several other reports. Mizuho decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.83.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO opened at $35.96 on Wednesday. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The stock’s 50-day simple moving average is $36.10 and its 200 day simple moving average is $37.26. The stock has a market capitalization of $4.50 billion, a price-to-earnings ratio of 71.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating 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%. On average, research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.’s payout ratio is presently 246.00%.

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

Institutional investors have recently added to or reduced their stakes in the company. 111 Capital purchased a new position in Phillips Edison & Company, Inc. during the 4th quarter valued at about $241,000. Ameriflex Group Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter worth $719,000. GF Fund Management CO. LTD. bought a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter valued at $83,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Phillips Edison & Company, Inc. by 2.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 785,928 shares of the company’s stock worth $29,441,000 after purchasing an additional 20,106 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its position in Phillips Edison & Company, Inc. by 29.8% during the 4th quarter. Voloridge Investment Management LLC now owns 55,613 shares of the company’s stock valued at $2,083,000 after purchasing an additional 12,777 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Company Profile

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.