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

Key Points

• Phillips Edison & Company, Inc. was upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating improved outlook among analysts.
• Barclays and Mizuho both adjusted their price targets, with Barclays lowering it from $37.00 to $36.00 and Mizuho from $38.00 to $37.00.
• The company reported a 10.1% year-over-year increase in revenue with an earnings per share of $0.64, slightly beating estimates of $0.63.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.

Other analysts also recently issued reports about the company. Barclays decreased their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Mizuho lowered their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $38.33.

Phillips Edison & Company, Inc. Trading Up 0.3%

Shares of PECO opened at $36.15 on Friday. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 1.23 and a beta of 0.55. The stock has a 50 day moving average of $34.53 and a 200 day moving average of $35.14. Phillips Edison & Company, Inc. has a 12 month low of $32.40 and a 12 month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.64 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 company had revenue of $173.47 million during the quarter, compared to the consensus estimate of $174.38 million. During the same period last year, the business posted $0.59 earnings per share. Phillips Edison & Company, Inc.'s revenue was up 10.1% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. As a group, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter valued at $55,410,000. Engineers Gate Manager LP bought a new stake in Phillips Edison & Company, Inc. during the second quarter valued at $32,695,000. Nuveen LLC bought a new stake in Phillips Edison & Company, Inc. during the first quarter valued at $32,465,000. Balyasny Asset Management L.P. purchased a new position in Phillips Edison & Company, Inc. during the second quarter worth about $22,434,000. Finally, Alyeska Investment Group L.P. grew its position in Phillips Edison & Company, Inc. by 42.1% during the first 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 in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

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.