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

Phillips Edison & Company, Inc. (NASDAQ:PECO) has been given a consensus rating of “Hold” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $36.83.

Several brokerages recently commented on PECO. Mizuho boosted their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday. Compass Point lowered their price target on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, April 29th. Wells Fargo & Company lowered their price target on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a research note on Tuesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

Large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Phillips Edison & Company, Inc. by 0.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,862 shares of the company’s stock worth $2,074,000 after buying an additional 306 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 2,331.3% during the fourth quarter. International Assets Investment Management LLC now owns 137,201 shares of the company’s stock worth $5,005,000 after buying an additional 131,558 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 30.4% during the fourth quarter. Cerity Partners LLC now owns 35,510 shares of the company’s stock worth $1,295,000 after buying an additional 8,284 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 5.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 138,943 shares of the company’s stock worth $5,069,000 after buying an additional 7,304 shares during the last quarter. Finally, abrdn plc lifted its holdings in shares of Phillips Edison & Company, Inc. by 313.2% during the fourth quarter. abrdn plc now owns 103,674 shares of the company’s stock worth $3,782,000 after buying an additional 78,581 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $35.71 on Friday. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $37.92. The stock’s 50-day moving average is $33.78 and its two-hundred day moving average is $33.76. The stock has a market cap of $4.37 billion, a PE ratio of 77.63, a price-to-earnings-growth ratio of 3.28 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.48). The firm had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. On average, equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.097 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a yield of 3.26%. Phillips Edison & Company, Inc.’s payout ratio is currently 254.35%.

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.