Mizuho Issues Pessimistic Forecast for Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price

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

Several other analysts have also issued reports on the company. Wells Fargo & Company reduced their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Barclays began coverage on Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.50.

Phillips Edison & Company, Inc. Price Performance

NASDAQ PECO traded down $0.08 on Thursday, reaching $34.93. The stock had a trading volume of 880,898 shares, compared to its average volume of 736,355. The firm has a fifty day moving average of $35.21 and a two-hundred day moving average of $35.66. Phillips Edison & Company, Inc. has a 1-year low of $28.34 and a 1-year high of $40.12. The company has a market cap of $4.38 billion, a P/E ratio of 61.28, a price-to-earnings-growth ratio of 1.22 and a beta of 0.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued 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 return on equity of 2.73% and a net margin of 10.51%. The firm had revenue of $178.31 million for the quarter, compared to analyst estimates of $170.59 million. During the same period in the prior year, the firm posted $0.60 EPS. The company's revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were issued a dividend of $0.1025 per share. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, June 16th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is currently 215.79%.

Institutional Trading of Phillips Edison & Company, Inc.

Several large investors have recently bought and sold shares of the business. PFG Investments LLC boosted its stake in Phillips Edison & Company, Inc. by 3.8% in the second quarter. PFG Investments LLC now owns 28,420 shares of the company's stock valued at $996,000 after buying an additional 1,053 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Phillips Edison & Company, Inc. by 5.4% in the second quarter. State of Alaska Department of Revenue now owns 135,843 shares of the company's stock valued at $4,756,000 after buying an additional 6,948 shares in the last quarter. GAMMA Investing LLC boosted its stake in Phillips Edison & Company, Inc. by 51.9% in the second quarter. GAMMA Investing LLC now owns 4,713 shares of the company's stock valued at $165,000 after buying an additional 1,611 shares in the last quarter. A&I Financial Services LLC boosted its stake in Phillips Edison & Company, Inc. by 3.9% in the second quarter. A&I Financial Services LLC now owns 11,419 shares of the company's stock valued at $400,000 after buying an additional 433 shares in the last quarter. Finally, My Legacy Advisors LLC boosted its stake in Phillips Edison & Company, Inc. by 5.6% in the second quarter. My Legacy Advisors LLC now owns 47,367 shares of the company's stock valued at $1,637,000 after buying an additional 2,514 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

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.