Phillips Edison & Company, Inc. (NASDAQ:PECO) Cut to Sell at Wall Street Zen

Key Points

• Phillips Edison & Company, Inc. was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, reflecting concerns about the company's performance.
• Currently, the consensus rating for PECO stock is "Hold" with an average target price of $38.50, despite mixed ratings from various brokerages.
• The company reported $173.47 million in revenue for the last quarter, which was slightly below analysts' expectations but shows a 10.1% increase compared to the same quarter last year.

Wall Street Zen cut shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) from a hold rating to a sell rating in a report published on Saturday.

Several other equities research analysts also recently weighed in on PECO. Barclays began coverage on Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 target price for the company. Mizuho decreased their target price on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. currently has an average rating of "Hold" and an average price target of $38.50.

Phillips Edison & Company, Inc. Price Performance

PECO stock traded up $0.88 during trading on Friday, reaching $35.11. 838,873 shares of the stock traded hands, compared to its average volume of 721,826. The business's 50 day moving average price is $35.04 and its 200-day moving average price is $35.54. Phillips Edison & Company, Inc. has a 52-week low of $32.40 and a 52-week high of $40.12. The firm has a market capitalization of $4.40 billion, a PE ratio of 63.84, a P/E/G ratio of 1.19 and a beta of 0.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%. The firm had revenue of $173.47 million during the quarter, compared to the consensus estimate of $174.38 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.1025 per share. This represents a yield of 3.5%. The ex-dividend date was Monday, June 16th. Phillips Edison & Company, Inc.'s payout ratio is currently 223.64%.

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors and hedge funds have recently bought and sold shares of PECO. Teacher Retirement System of Texas raised its stake in Phillips Edison & Company, Inc. by 15.4% during the fourth quarter. Teacher Retirement System of Texas now owns 32,443 shares of the company's stock valued at $1,215,000 after buying an additional 4,320 shares in the last quarter. American Century Companies Inc. raised its position in shares of Phillips Edison & Company, Inc. by 3.4% during the 4th quarter. American Century Companies Inc. now owns 41,137 shares of the company's stock worth $1,541,000 after purchasing an additional 1,352 shares during the period. Sei Investments Co. raised its position in shares of Phillips Edison & Company, Inc. by 32.7% during the 4th quarter. Sei Investments Co. now owns 248,159 shares of the company's stock worth $9,296,000 after purchasing an additional 61,110 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter worth approximately $972,000. Finally, LPL Financial LLC raised its position in shares of Phillips Edison & Company, Inc. by 12.6% during the 4th quarter. LPL Financial LLC now owns 370,636 shares of the company's stock worth $13,884,000 after purchasing an additional 41,468 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.