Wells Fargo & Company Begins Coverage on Phillips Edison & Company, Inc. (NASDAQ:PECO)

Key Points

• Wells Fargo & Company has initiated coverage on Phillips Edison & Company, Inc. (NASDAQ: PECO) with an "equal weight" rating and a target price of $36.00, suggesting a potential upside of 4.71% from its previous close.
• Several brokerages have varied opinions on PECO, including a downgrade from "hold" to "sell" by Wall Street Zen and an "outperform" rating with a revised target price of $37.00 from Mizuho.
• Phillips Edison reported a 10.1% year-over-year increase in revenue for the quarter, achieving $173.47 million, while posting earnings of $0.64 per share, slightly above analysts' estimates.

Equities researchers at Wells Fargo & Company began coverage on shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) in a research note issued on Tuesday. The firm set an "equal weight" rating and a $36.00 price target on the stock. Wells Fargo & Company's price objective indicates a potential upside of 4.71% from the company's previous close.

Several other brokerages also recently weighed in on PECO. Wall Street Zen downgraded Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Mizuho decreased their target price 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. Weiss Ratings restated a "hold (c+)" rating on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, October 8th. UBS Group initiated coverage on Phillips Edison & Company, Inc. in a research note on Friday. They set a "neutral" rating and a $37.00 target price for the company. Finally, Barclays increased their target price on Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the company an "equal weight" rating in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of "Hold" and a consensus price target of $38.86.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ PECO opened at $34.38 on Tuesday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 62.51, a P/E/G ratio of 1.18 and a beta of 0.54. The business's 50-day simple moving average is $34.55 and its 200-day simple moving average is $34.85. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The firm's revenue for the quarter 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 forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Institutional Trading of Phillips Edison & Company, Inc.

A number of hedge funds have recently modified their holdings of PECO. Norges Bank bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $55,410,000. Engineers Gate Manager LP bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $32,695,000. Nuveen LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 1st quarter worth approximately $32,465,000. Balyasny Asset Management L.P. bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $22,434,000. Finally, Alyeska Investment Group L.P. lifted its position 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. Institutional investors own 80.70% of the company's stock.

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.

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