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

Phillips Edison & Company, Inc. (NASDAQ:PECO) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Wednesday, Marketbeat reports. The firm presently has a $44.00 price objective on the stock. Wolfe Research’s target price suggests a potential upside of 13.58% from the company’s current price.

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

Phillips Edison & Company, Inc. Stock Down 0.9 %

Phillips Edison & Company, Inc. stock opened at $38.74 on Wednesday. The company has a market capitalization of $4.75 billion, a PE ratio of 84.22, a PEG ratio of 3.58 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.83. The firm’s fifty day moving average is $37.63 and its 200 day moving average is $34.98.

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

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Phillips Edison & Company, Inc. by 3.1% during the first quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after purchasing an additional 577,445 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after buying an additional 102,519 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Phillips Edison & Company, Inc. by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after buying an additional 179,775 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after acquiring an additional 826,891 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Phillips Edison & Company, Inc. by 5.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company’s stock valued at $41,810,000 after acquiring an additional 56,897 shares in the last quarter. Hedge funds and other 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.