JPMorgan Chase & Co. Cuts Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $40.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its target price lowered by JPMorgan Chase & Co. from $41.00 to $40.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also commented on the stock. Compass Point raised their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Wolfe Research upgraded 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 research report on Wednesday, November 13th. Finally, Mizuho upped their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ PECO opened at $36.60 on Tuesday. The firm has a market capitalization of $4.49 billion, a P/E ratio of 79.57, a PEG ratio of 3.60 and a beta of 0.59. The stock has a 50-day simple moving average of $38.55 and a two-hundred day simple moving average of $36.73. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The company had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. During the same period last year, the business earned $0.58 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

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

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

Several large investors have recently bought and sold shares of PECO. Duff & Phelps Investment Management Co. purchased a new position in shares of Phillips Edison & Company, Inc. in the second quarter valued at approximately $32,120,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Phillips Edison & Company, Inc. by 408.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company’s stock valued at $28,879,000 after purchasing an additional 615,076 shares in the last quarter. Millennium Management LLC acquired a new stake in Phillips Edison & Company, Inc. during the 2nd quarter worth $8,397,000. Dimensional Fund Advisors LP boosted its stake in Phillips Edison & Company, Inc. by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after purchasing an additional 179,775 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 578.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company’s stock worth $5,247,000 after buying an additional 118,640 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

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.