Phillips Edison & Company, Inc. (NASDAQ:PECO) Upgraded to “Outperform” at Wolfe Research

Wolfe Research upgraded shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) from a peer perform rating to an outperform rating in a report issued on Wednesday morning, MarketBeat Ratings reports. They currently have $44.00 target price on the stock.

A number of other brokerages have also recently commented on PECO. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho increased their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Compass Point increased their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $38.43.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO opened at $39.11 on Wednesday. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.83. The company’s fifty day moving average is $37.60 and its 200-day moving average is $34.95. The company has a market capitalization of $4.79 billion, a PE ratio of 85.02, a P/E/G ratio of 3.58 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. purchased a new stake in Phillips Edison & Company, Inc. during the 2nd quarter valued at $26,000. V Square Quantitative Management LLC bought a new stake in Phillips Edison & Company, Inc. in the third quarter worth $28,000. Hobbs Group Advisors LLC purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth about $39,000. PFG Private Wealth Management LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the second quarter valued at $62,000. Finally, Blue Trust Inc. boosted its stake in shares of Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after purchasing an additional 1,290 shares during the period. Institutional investors own 80.70% of the company’s stock.

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.