Wells Fargo & Company Has Lowered Expectations for Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price objective dropped by Wells Fargo & Company from $37.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 0.98% from the stock’s previous close.

Several other analysts also recently issued reports on PECO. Mizuho decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Stock Down 0.3 %

Shares of PECO opened at $35.65 on Wednesday. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The business’s 50 day moving average price is $36.09 and its 200-day moving average price is $37.29. The stock has a market cap of $4.46 billion, a P/E ratio of 71.30, a P/E/G ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors have recently made changes to their positions in PECO. Allspring Global Investments Holdings LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $488,000. Barclays PLC increased its position in Phillips Edison & Company, Inc. by 49.2% during the third quarter. Barclays PLC now owns 279,432 shares of the company’s stock worth $10,538,000 after buying an additional 92,129 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Phillips Edison & Company, Inc. by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock valued at $80,371,000 after purchasing an additional 51,186 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Phillips Edison & Company, Inc. by 50.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock valued at $55,589,000 after acquiring an additional 492,160 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 595,165 shares of the company’s stock worth $22,295,000 after purchasing an additional 17,235 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

About Phillips Edison & Company, Inc.

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.