Phillips Edison & Company, Inc. (NASDAQ:PECO) Reaches New 12-Month High – Still a Buy?

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $37.69 and last traded at $37.5090, with a volume of 92387 shares trading hands. The stock had previously closed at $37.22.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Mizuho set a $39.00 target price on Phillips Edison & Company, Inc. in a report on Friday, January 9th. Morgan Stanley boosted their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Evercore ISI started coverage on shares of Phillips Edison & Company, Inc. in a research report on Thursday, January 15th. They set an “outperform” rating and a $41.00 price target on the stock. KeyCorp restated a “sector weight” rating on shares of Phillips Edison & Company, Inc. in a research report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Phillips Edison & Company, Inc. in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and an average target price of $38.86.

Phillips Edison & Company, Inc. Stock Performance

The company has a market cap of $4.72 billion, a price-to-earnings ratio of 56.83, a P/E/G ratio of 0.93 and a beta of 0.53. The company has a fifty day moving average of $35.47 and a two-hundred day moving average of $34.83.

Hedge Funds Weigh In On Phillips Edison & Company, Inc.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PECO. Assetmark Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the second quarter worth $28,000. Flagship Harbor Advisors LLC acquired a new position in Phillips Edison & Company, Inc. during the 4th quarter worth about $31,000. Jones Financial Companies Lllp lifted its holdings in Phillips Edison & Company, Inc. by 2,590.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,076 shares of the company’s stock worth $37,000 after buying an additional 1,036 shares during the period. Hantz Financial Services Inc. grew its position in shares of Phillips Edison & Company, Inc. by 418.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,119 shares of the company’s stock valued at $38,000 after buying an additional 903 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $43,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company’s investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.

In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.