Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Gap Down - What's Next?

Key Points

• Phillips Edison & Company, Inc. shares recently gapped down from a previous close of $34.33 to open at $33.09 before trading at $34.11.
• Analysts have given mixed ratings for PECO, with a consensus rating of "Moderate Buy" and a target price of $38.83, while some firms have downgraded the stock to "sell."
• The company declared a monthly dividend of $0.1083 with a dividend yield of 3.8%, and a payout ratio of 236.36%.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $34.33, but opened at $33.09. Phillips Edison & Company, Inc. shares last traded at $34.11, with a volume of 63,202 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PECO shares. Wall Street Zen cut shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Barclays decreased their price objective on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 27th. LADENBURG THALM/SH SH began coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They issued a "buy" rating and a $40.00 price objective for the company. Finally, Mizuho decreased their price objective on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Price Performance

The stock has a market cap of $4.28 billion, a PE ratio of 62.05, a PEG ratio of 1.17 and a beta of 0.55. The firm has a 50 day moving average of $34.62 and a two-hundred day moving average of $35.04.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The firm's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. As a group, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 4th. Investors of record on Wednesday, October 15th will be paid a $0.1083 dividend. The ex-dividend date is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. Phillips Edison & Company, Inc.'s payout ratio is 236.36%.

Institutional Trading of Phillips Edison & Company, Inc.

A number of institutional investors have recently bought and sold shares of PECO. Fifth Third Bancorp boosted its position in Phillips Edison & Company, Inc. by 78.1% during the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after purchasing an additional 321 shares in the last quarter. Assetmark Inc. acquired a new position in Phillips Edison & Company, Inc. in the second quarter valued at $28,000. CX Institutional acquired a new position in Phillips Edison & Company, Inc. in the first quarter valued at $30,000. MassMutual Private Wealth & Trust FSB increased its stake in Phillips Edison & Company, Inc. by 79.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock valued at $50,000 after purchasing an additional 602 shares during the last quarter. Finally, Quarry LP increased its stake in Phillips Edison & Company, Inc. by 21,362.5% in the first quarter. Quarry LP now owns 1,717 shares of the company's stock valued at $63,000 after purchasing an additional 1,709 shares during the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.