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

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

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

Phillips Edison & Company, Inc. Price Performance

Shares of PECO opened at $36.45 on Tuesday. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The stock has a fifty day moving average price of $38.60 and a 200 day moving average price of $36.73. The company has a market cap of $4.47 billion, a P/E ratio of 79.24, a PEG ratio of 3.60 and a beta of 0.59.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued 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). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

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

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

Several hedge funds have recently made changes to their positions in PECO. V Square Quantitative Management LLC acquired a new stake in Phillips Edison & Company, Inc. during the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the third quarter worth approximately $36,000. Blue Trust Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 15.5% in the third quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after purchasing an additional 325 shares in the last quarter. GAMMA Investing LLC grew its position in Phillips Edison & Company, Inc. by 31.8% during the third quarter. GAMMA Investing LLC now owns 3,330 shares of the company’s stock valued at $126,000 after purchasing an additional 803 shares in the last quarter. Finally, Tsfg LLC acquired a new position in Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $127,000. 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.