Phillips Edison & Company Inc (NASDAQ:PECO) Updates FY 2021 Earnings Guidance

Phillips Edison & Company Inc (NASDAQ:PECO) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.210-$0.260 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.110. The company issued revenue guidance of -.

Phillips Edison & Company Inc stock traded down $0.16 during mid-day trading on Thursday, hitting $33.57. 118,052 shares of the company’s stock traded hands, compared to its average volume of 290,644. The company has a 50 day moving average price of $31.66. Phillips Edison & Company Inc has a one year low of $26.51 and a one year high of $34.97.

Phillips Edison & Company Inc (NASDAQ:PECO) last announced its earnings results on Thursday, November 4th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.34). Equities research analysts predict that Phillips Edison & Company Inc will post 2.16 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, February 1st. Shareholders of record on Wednesday, January 19th will be paid a dividend of $0.09 per share. This represents a $1.08 annualized dividend and a yield of 3.22%. The ex-dividend date is Tuesday, January 18th.

PECO has been the topic of a number of research reports. KeyCorp initiated coverage on Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued a sector weight rating on the stock. Mizuho initiated coverage on Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued a buy rating and a $33.00 price objective on the stock. Zacks Investment Research downgraded Phillips Edison & Company Inc from a buy rating to a hold rating in a research note on Saturday, November 20th. JPMorgan Chase & Co. initiated coverage on Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued a neutral rating and a $32.00 price objective on the stock. Finally, The Goldman Sachs Group initiated coverage on Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued a buy rating and a $36.00 price objective on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $33.50.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada acquired a new position in shares of Phillips Edison & Company Inc in the 3rd quarter worth $74,000. Jane Street Group LLC acquired a new position in shares of Phillips Edison & Company Inc in the 3rd quarter worth $243,000. Two Sigma Advisers LP acquired a new position in shares of Phillips Edison & Company Inc in the 3rd quarter worth $298,000. American International Group Inc. acquired a new position in shares of Phillips Edison & Company Inc in the 3rd quarter worth $315,000. Finally, Morgan Stanley acquired a new position in shares of Phillips Edison & Company Inc in the 3rd quarter worth $319,000. Institutional investors and hedge funds own 12.54% of the company’s stock.

About Phillips Edison & Company Inc

Phillips Edison & Company Inc is an owners and operators of omni-channel grocery-anchored neighborhood shopping centers. It owned equity interests in real estate properties, including wholly-owned real estate properties and shopping center properties. Phillips Edison & Company Inc is based in CINCINNATI.

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Earnings History and Estimates for Phillips Edison & Company Inc (NASDAQ:PECO)

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