Phillips Edison & Company, Inc. (NASDAQ:PECO) Sees Large Drop in Short Interest

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 3,310,000 shares, a decline of 16.2% from the March 15th total of 3,950,000 shares. Currently, 2.7% of the company's stock are sold short. Based on an average daily volume of 708,200 shares, the short-interest ratio is presently 4.7 days.

Phillips Edison & Company, Inc. Trading Down 0.4 %

Shares of PECO stock traded down $0.14 during trading hours on Friday, reaching $35.08. 1,259,650 shares of the company's stock were exchanged, compared to its average volume of 706,163. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The stock has a market cap of $4.39 billion, a PE ratio of 70.16, a PEG ratio of 1.70 and a beta of 0.57. The stock's fifty day moving average price is $35.57 and its two-hundred day moving average price is $36.91.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.51%. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 215.79%.

Analysts Set New Price Targets

Several research firms have commented on PECO. JPMorgan Chase & Co. decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their price objective on shares of 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, March 26th. Finally, Mizuho lowered their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.83.

Institutional Trading of Phillips Edison & Company, Inc.

Several large investors have recently added to or reduced their stakes in PECO. Fifth Third Bancorp lifted its holdings in shares of 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 during the period. CX Institutional acquired a new stake in Phillips Edison & Company, Inc. during the 1st quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Phillips Edison & Company, Inc. by 79.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock valued at $50,000 after acquiring an additional 602 shares during the last quarter. State of Wyoming acquired a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter worth $54,000. Finally, Allworth Financial LP increased its stake in shares of Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company's stock worth $58,000 after acquiring an additional 788 shares during the period. Hedge funds and other institutional investors 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.