Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target Cut to $37.00 by Analysts at Wells Fargo & Company

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target lowered by Wells Fargo & Company from $39.00 to $37.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on PECO. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Wednesday, November 13th. Mizuho increased their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price objective 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Phillips Edison & Company, Inc. Stock Down 1.0 %

Shares of NASDAQ:PECO opened at $36.33 on Wednesday. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 78.98, a PEG ratio of 3.17 and a beta of 0.59. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The company’s fifty day simple moving average is $37.67 and its 200 day simple moving average is $37.12.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.1025 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a dividend yield of 3.13%. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

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

Several institutional investors and hedge funds have recently modified their holdings of PECO. V Square Quantitative Management LLC bought a new stake in Phillips Edison & Company, Inc. in the 3rd quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at approximately $36,000. Allworth Financial LP boosted its stake in shares of Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after buying an additional 788 shares during the period. Blue Trust Inc. grew its position in Phillips Edison & Company, Inc. by 15.5% during the third quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after buying an additional 325 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Phillips Edison & Company, Inc. by 31.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,330 shares of the company’s stock worth $126,000 after acquiring an additional 803 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

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.