Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target Raised to $36.00 at Mizuho

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target increased by Mizuho from $33.00 to $36.00 in a report issued on Monday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company cut their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an underweight rating on the stock in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, May 29th. Finally, Compass Point dropped their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a neutral rating on the stock in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of Hold and a consensus price target of $36.83.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $35.85 on Monday. The firm has a market capitalization of $4.39 billion, a P/E ratio of 77.94, a PEG ratio of 3.32 and a beta of 0.56. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $37.92. The company’s 50-day simple moving average is $33.78 and its 200 day simple moving average is $33.76.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The company had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts expect that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.097 per share. This represents a $1.16 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, August 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

Institutional Trading of Phillips Edison & Company, Inc.

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in Phillips Edison & Company, Inc. by 2,331.3% during the fourth quarter. International Assets Investment Management LLC now owns 137,201 shares of the company’s stock valued at $5,005,000 after purchasing an additional 131,558 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Phillips Edison & Company, Inc. by 5.5% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 138,943 shares of the company’s stock valued at $5,069,000 after buying an additional 7,304 shares during the last quarter. abrdn plc raised its stake in Phillips Edison & Company, Inc. by 313.2% during the 4th quarter. abrdn plc now owns 103,674 shares of the company’s stock valued at $3,782,000 after buying an additional 78,581 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Phillips Edison & Company, Inc. by 12.5% during the 4th quarter. California Public Employees Retirement System now owns 179,642 shares of the company’s stock valued at $6,553,000 after buying an additional 20,003 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Phillips Edison & Company, Inc. by 4.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 67,182 shares of the company’s stock worth $2,451,000 after buying an additional 2,679 shares during the last quarter. 80.70% of the stock is currently owned by 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.