Phillips Edison & Company, Inc. (NASDAQ:PECO) Short Interest Up 24.6% in March

Phillips Edison & Company, Inc. (NASDAQ:PECO) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,950,000 shares, a growth of 24.6% from the February 28th total of 3,170,000 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 630,500 shares, the short-interest ratio is currently 6.3 days.

Phillips Edison & Company, Inc. Trading Up 1.0 %

PECO stock traded up $0.37 during midday trading on Tuesday, hitting $36.86. The stock had a trading volume of 1,077,125 shares, compared to its average volume of 670,981. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The stock has a 50-day simple moving average of $36.11 and a 200 day simple moving average of $37.25. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 73.72, a P/E/G ratio of 1.70 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.34%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is 246.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in Phillips Edison & Company, Inc. by 79.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company’s stock valued at $50,000 after purchasing an additional 602 shares during the last quarter. 111 Capital acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter worth approximately $241,000. Ameriflex Group Inc. bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $719,000. GF Fund Management CO. LTD. acquired a new stake in Phillips Edison & Company, Inc. during the 4th quarter valued at $83,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $29,441,000 after purchasing an additional 20,106 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PECO shares. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Mizuho lowered their price objective 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. Finally, Wells Fargo & Company cut their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.83.

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.