Mizuho Cuts Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $33.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target decreased by Mizuho from $37.00 to $33.00 in a research report report published on Thursday morning, Benzinga reports. Mizuho currently has a buy rating on the stock.

PECO has been the subject of several other research reports. JPMorgan Chase & Co. dropped their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a neutral rating for the company in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a buy rating and a $41.00 target price on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. currently has an average rating of Hold and an average price target of $37.57.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $31.43 on Thursday. The firm has a 50 day simple moving average of $33.51 and a 200 day simple moving average of $34.79. Phillips Edison & Company, Inc. has a fifty-two week low of $27.85 and a fifty-two week high of $37.92. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 68.33, a price-to-earnings-growth ratio of 3.20 and a beta of 0.59.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a dividend of $0.0975 per share. The ex-dividend date is Monday, July 15th. This represents a $1.17 dividend on an annualized basis and a yield of 3.72%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PECO. Cetera Advisors LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 60.4% during the first quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after acquiring an additional 297,945 shares during the period. Cetera Investment Advisers raised its stake in shares of Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after purchasing an additional 826,891 shares during the period. Coppell Advisory Solutions Corp. bought a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at about $607,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Phillips Edison & Company, Inc. by 4.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 18,081 shares of the company’s stock worth $608,000 after buying an additional 699 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Phillips Edison & Company, Inc. by 15,338.0% during the first quarter. Public Employees Retirement System of Ohio now owns 175,376 shares of the company’s stock worth $6,291,000 after buying an additional 174,240 shares in the last quarter. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Company Profile

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.