Phillips Edison & Company, Inc. (NASDAQ:PECO) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) from a peer perform rating to an outperform rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $44.00 price objective on the stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, Mizuho increased their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.43.

Phillips Edison & Company, Inc. Trading Up 1.0 %

NASDAQ PECO opened at $39.01 on Wednesday. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 84.80, a PEG ratio of 3.58 and a beta of 0.57. The stock has a 50-day moving average of $37.67 and a 200 day moving average of $35.04. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results 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 return on equity of 2.22% and a net margin of 9.03%. The business had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. During the same period in the previous year, the company earned $0.58 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.15%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after acquiring an additional 577,445 shares during the period. State Street Corp increased its position in Phillips Edison & Company, Inc. by 0.3% during the third quarter. State Street Corp now owns 7,068,684 shares of the company’s stock worth $267,289,000 after purchasing an additional 18,429 shares during the last quarter. Geode Capital Management LLC increased its position in Phillips Edison & Company, Inc. by 0.6% during the third quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock worth $120,347,000 after purchasing an additional 19,205 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Phillips Edison & Company, Inc. by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after purchasing an additional 102,519 shares during the period. Finally, Duff & Phelps Investment Management Co. grew its stake in shares of Phillips Edison & Company, Inc. by 50.1% in 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 buying an additional 492,160 shares during the period. Institutional investors and hedge funds 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.