Phillips Edison & Company, Inc. (NASDAQ:PECO) Earns Equal Weight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) in a research report sent to investors on Tuesday morning, The Fly reports. The firm issued an equal weight rating and a $31.00 target price on the stock.

A number of other analysts have also weighed in on PECO. Mizuho raised their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $35.00 and gave the company a neutral rating in a research report on Wednesday, March 1st. The Goldman Sachs Group initiated coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, March 21st. They set a buy rating and a $38.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $33.17.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $28.14 on Tuesday. Phillips Edison & Company, Inc. has a fifty-two week low of $27.07 and a fifty-two week high of $35.90. The firm has a market capitalization of $3.30 billion, a P/E ratio of 59.87, a P/E/G ratio of 3.12 and a beta of 0.54. The company’s 50 day moving average price is $30.75 and its two-hundred day moving average price is $31.92.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 17th will be paid a dividend of $0.0933 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Friday, July 14th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 238.30%.

Insider Buying and Selling

In other news, Director Leslie T. Chao bought 10,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $29.18 per share, with a total value of $291,800.00. Following the completion of the purchase, the director now directly owns 45,426 shares of the company’s stock, valued at $1,325,530.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.95% of the stock is owned by insiders.

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

A number of hedge funds have recently bought and sold shares of PECO. Vanguard Group Inc. raised its stake in Phillips Edison & Company, Inc. by 579.0% during the first quarter. Vanguard Group Inc. now owns 10,505,954 shares of the company’s stock worth $361,300,000 after buying an additional 8,958,751 shares during the last quarter. BlackRock Inc. raised its stake in Phillips Edison & Company, Inc. by 443.8% during the first quarter. BlackRock Inc. now owns 7,310,113 shares of the company’s stock worth $251,393,000 after buying an additional 5,965,943 shares during the last quarter. Wellington Management Group LLP increased its stake in Phillips Edison & Company, Inc. by 313.4% in the first quarter. Wellington Management Group LLP now owns 7,725,477 shares of the company’s stock valued at $265,679,000 after purchasing an additional 5,856,834 shares in the last quarter. State Street Corp increased its stake in Phillips Edison & Company, Inc. by 128.1% in the second quarter. State Street Corp now owns 4,480,286 shares of the company’s stock valued at $149,905,000 after purchasing an additional 2,516,281 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its stake in Phillips Edison & Company, Inc. by 126.2% in the first quarter. Centersquare Investment Management LLC now owns 1,944,184 shares of the company’s stock valued at $66,860,000 after purchasing an additional 1,084,530 shares in the last quarter. Institutional investors own 70.90% of the company’s stock.

About Phillips Edison & Company, Inc.

(Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.