Brokerages Set Phillips Edison & Company, Inc. (NASDAQ:PECO) Target Price at $38.14

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) have been given a consensus recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $38.14.

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price target for the company. JPMorgan Chase & Co. dropped their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, February 14th. Finally, Mizuho upgraded Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $35.00 to $37.00 in a report on Friday, February 23rd.

Phillips Edison & Company, Inc. Price Performance

NASDAQ PECO opened at $32.38 on Friday. The stock has a market capitalization of $3.96 billion, a PE ratio of 70.39, a P/E/G ratio of 3.71 and a beta of 0.55. The business has a 50 day simple moving average of $34.90 and a two-hundred day simple moving average of $35.07. Phillips Edison & Company, Inc. has a 1-year low of $27.85 and a 1-year high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a dividend of $0.0975 per share. The ex-dividend date is Friday, April 12th. This represents a $1.17 dividend on an annualized basis and a yield of 3.61%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s payout ratio is presently 254.35%.

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

Large investors have recently bought and sold shares of the business. ClariVest Asset Management LLC boosted its holdings in Phillips Edison & Company, Inc. by 73,077.5% during the 3rd quarter. ClariVest Asset Management LLC now owns 29,271 shares of the company’s stock valued at $981,000 after acquiring an additional 29,231 shares during the period. LPL Financial LLC raised its position in Phillips Edison & Company, Inc. by 36.9% during the 3rd quarter. LPL Financial LLC now owns 348,035 shares of the company’s stock valued at $11,673,000 after purchasing an additional 93,719 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Phillips Edison & Company, Inc. by 54.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 78,593 shares of the company’s stock valued at $2,636,000 after purchasing an additional 27,641 shares in the last quarter. FMR LLC raised its position in Phillips Edison & Company, Inc. by 4.0% during the 3rd quarter. FMR LLC now owns 4,874,206 shares of the company’s stock valued at $163,481,000 after purchasing an additional 186,651 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Phillips Edison & Company, Inc. by 1.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,207,617 shares of the company’s stock valued at $174,663,000 after purchasing an additional 99,383 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.