Short Interest in Phillips Edison & Company, Inc. (NASDAQ:PECO) Drops By 35.2%

Phillips Edison & Company, Inc. (NASDAQ:PECO) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 1,900,000 shares, a decline of 35.2% from the December 15th total of 2,930,000 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 676,300 shares, the days-to-cover ratio is currently 2.8 days.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock opened at $35.65 on Tuesday. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 77.50, a P/E/G ratio of 3.60 and a beta of 0.59. The company’s 50 day moving average price is $38.46 and its 200-day moving average price is $36.84.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released 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 return on equity of 2.22% and a net margin of 9.03%. The business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same quarter last year, the business posted $0.58 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

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

Institutional Trading of Phillips Edison & Company, Inc.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in shares of Phillips Edison & Company, Inc. by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock valued at $40,911,000 after purchasing an additional 179,775 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in Phillips Edison & Company, Inc. by 38.4% in the second quarter. Mutual of America Capital Management LLC now owns 100,184 shares of the company’s stock worth $3,277,000 after acquiring an additional 27,796 shares in the last quarter. AE Wealth Management LLC grew its stake in shares of Phillips Edison & Company, Inc. by 20.8% in the second quarter. AE Wealth Management LLC now owns 40,367 shares of the company’s stock worth $1,320,000 after acquiring an additional 6,964 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in shares of Phillips Edison & Company, Inc. by 18.5% in the second quarter. Ensign Peak Advisors Inc now owns 51,347 shares of the company’s stock worth $1,680,000 after acquiring an additional 8,015 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Phillips Edison & Company, Inc. by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 269,338 shares of the company’s stock valued at $8,810,000 after acquiring an additional 19,223 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Mizuho raised their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. 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 on the stock in a research note on Tuesday, January 7th. Finally, Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Phillips Edison & Company, Inc. Company Profile

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.