Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price Target Raised at UBS Group

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its target price hoisted by UBS Group from $42.00 to $45.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also commented on PECO. Barclays lowered their price target on shares of Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, September 28th. JPMorgan Chase & Co. raised their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, November 5th. Griffin Securities set a $44.00 price target on Phillips Edison & Company, Inc. in a report on Monday, September 21st. Mizuho reduced their price objective on Phillips Edison & Company, Inc. from $43.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Finally, The Goldman Sachs Group set a $44.00 target price on Phillips Edison & Company, Inc. in a research report on Wednesday, October 7th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.20.

Phillips Edison & Company, Inc. Stock Down 0.2%

NASDAQ:PECO opened at $41.13 on Wednesday. The company has a market cap of $5.31 billion, a PE ratio of 28.56, a P/E/G ratio of 2.41 and a beta of 0.54. The business’s 50 day moving average is $38.34 and its two-hundred day moving average is $39.36. Phillips Edison & Company, Inc. has a 52 week low of $34.22 and a 52 week high of $44.38.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Monday, October 26th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.20). The company had revenue of $193.09 million for the quarter, compared to analyst estimates of $190.17 million. Phillips Edison & Company, Inc. had a return on equity of 6.90% and a net margin of 23.87%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. As a group, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.78 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 2nd. Stockholders of record on Tuesday, February 16th will be given a $0.1150 dividend. This represents a $1.38 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, February 16th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 95.83%.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Waverly Advisors LLC grew its position in Phillips Edison & Company, Inc. by 0.8% during the 1st quarter. Waverly Advisors LLC now owns 35,466 shares of the company’s stock worth $1,327,000 after purchasing an additional 269 shares in the last quarter. Money Concepts Capital Corp lifted its holdings in shares of Phillips Edison & Company, Inc. by 0.4% in the third quarter. Money Concepts Capital Corp now owns 64,966 shares of the company’s stock valued at $2,426,000 after purchasing an additional 277 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 2.6% in the second quarter. Integrated Wealth Concepts LLC now owns 11,205 shares of the company’s stock valued at $466,000 after purchasing an additional 281 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Phillips Edison & Company, Inc. by 5.9% in the second quarter. GAMMA Investing LLC now owns 5,245 shares of the company’s stock worth $218,000 after buying an additional 292 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Phillips Edison & Company, Inc. by 0.5% in the third quarter. Illinois Municipal Retirement Fund now owns 64,046 shares of the company’s stock worth $2,391,000 after buying an additional 336 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc. is a real estate investment trust (REIT) that owns and operates grocery-anchored shopping centers. Its properties are designed to serve local communities, with grocery stores alongside retailers and service providers that meet everyday needs. The company’s activities include leasing and managing its centers, as well as acquiring and improving properties. Its portfolio spans markets across the United States. Founded in 1991, Phillips Edison is headquartered in Cincinnati, Ohio.