Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Has Consensus Target Price of $43.20 According to Brokerages

Key Points

• Analysts broadly rate PECO “Hold”: Seven of 10 covering analysts have hold ratings and three have buy ratings, with a consensus 12-month price target of $43.20.
• In its latest quarter, Phillips Edison reported EPS of $0.49, below the $0.69 consensus estimate, while revenue of $193.09 million topped expectations and rose 5.7% year over year.
• The company declared a monthly dividend of $0.115 per share, equivalent to $1.38 annually and a 3.4% yield.

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) have been assigned a consensus rating of "Hold" from the ten analysts that are presently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $43.20.

PECO has been the topic of a number of recent analyst reports. Mizuho cut their price target on shares of Phillips Edison & Company, Inc. from $43.00 to $39.00 and set an "outperform" rating on the stock in a report on Thursday, September 24th. Weiss Ratings lowered shares of Phillips Edison & Company, Inc. from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Barclays lowered their price objective on Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, September 28th. JPMorgan Chase & Co. increased their target price on Phillips Edison & Company, Inc. from $41.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, November 5th. Finally, Wells Fargo & Company decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set an "equal weight" rating for the company in a research note on Friday, October 23rd.

Phillips Edison & Company, Inc. Stock Down 0.1%

Shares of NASDAQ PECO traded down $0.03 during trading on Friday, reaching $41.19. The company had a trading volume of 673,434 shares, compared to its average volume of 1,208,857. Phillips Edison & Company, Inc. has a 12-month low of $34.22 and a 12-month high of $44.38. The stock has a market cap of $5.31 billion, a PE ratio of 28.60, a P/E/G ratio of 2.42 and a beta of 0.54. The business's 50-day moving average is $38.43 and its 200 day moving average is $39.42.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.20). The company had revenue of $193.09 million during the quarter, compared to analysts' expectations of $190.17 million. Phillips Edison & Company, Inc. had a return on equity of 6.90% and a net margin of 23.87%. Phillips Edison & Company, Inc.'s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. On average, analysts anticipate that Phillips Edison & Company, Inc. will post 2.78 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 2nd. Stockholders of record on Tuesday, February 16th will be issued a dividend of $0.1150 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, February 16th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 95.83%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PECO. Western Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. in the first quarter worth approximately $29,000. CX Institutional raised its stake in Phillips Edison & Company, Inc. by 115.5% during the 2nd quarter. CX Institutional now owns 724 shares of the company's stock valued at $30,000 after buying an additional 388 shares during the last quarter. YANKCOM Partnership purchased a new stake in Phillips Edison & Company, Inc. during the 3rd quarter valued at $39,000. Salomon & Ludwin LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 40.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 1,387 shares of the company's stock valued at $52,000 after buying an additional 398 shares during the period. Finally, Jacobi Capital Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $57,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc. is a real estate investment trust (REIT) that owns and operates grocery-anchored shopping centers. Its properties are designed to serve local communities, with grocery stores alongside retailers and service providers that meet everyday needs. The company's activities include leasing and managing its centers, as well as acquiring and improving properties. Its portfolio spans markets across the United States. Founded in 1991, Phillips Edison is headquartered in Cincinnati, Ohio.

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