Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target Cut to $37.00 by Analysts at Mizuho

Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) had its price objective trimmed by Mizuho from $38.00 to $37.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company reduced their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Barclays began coverage on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of "Hold" and an average price target of $38.50.

Phillips Edison & Company, Inc. Stock Down 0.2%

Shares of NASDAQ:PECO traded down $0.08 during trading on Thursday, reaching $34.93. The stock had a trading volume of 880,898 shares, compared to its average volume of 736,297. The stock has a market cap of $4.38 billion, a P/E ratio of 61.28, a PEG ratio of 1.23 and a beta of 0.55. The business has a fifty day moving average price of $35.20 and a 200-day moving average price of $35.62. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. The company had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. During the same quarter in the prior year, the company posted $0.60 EPS. The company's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were given a $0.1025 dividend. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 3.5%. Phillips Edison & Company, Inc.'s payout ratio is currently 215.79%.

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

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter worth approximately $55,977,000. Nuveen LLC bought a new position in Phillips Edison & Company, Inc. during the first quarter valued at about $32,465,000. JPMorgan Chase & Co. lifted its holdings in Phillips Edison & Company, Inc. by 53.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock worth $65,084,000 after purchasing an additional 606,055 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Phillips Edison & Company, Inc. by 42.1% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,013,308 shares of the company's stock worth $73,466,000 after buying an additional 596,123 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Phillips Edison & Company, Inc. by 129.2% in the first quarter. Millennium Management LLC now owns 855,138 shares of the company's stock worth $31,204,000 after purchasing an additional 482,057 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.

About Phillips Edison & Company, Inc.

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.