Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 2,720,000 shares, a decline of 36.6% from the September 15th total of 4,290,000 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average trading volume of 721,600 shares, the short-interest ratio is presently 3.8 days.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in PECO. 1620 Investment Advisors Inc. bought a new stake in shares of Phillips Edison & Company, Inc. during the second quarter valued at approximately $26,000. Creekmur Asset Management LLC bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter valued at $32,000. Hobbs Group Advisors LLC acquired a new position in Phillips Edison & Company, Inc. during the second quarter worth $39,000. PFG Private Wealth Management LLC bought a new position in shares of Phillips Edison & Company, Inc. in the second quarter valued at $62,000. Finally, Blue Trust Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after buying an additional 1,290 shares during the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently commented on PECO. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Compass Point raised their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.50.
Phillips Edison & Company, Inc. Stock Up 0.9 %
Phillips Edison & Company, Inc. stock traded up $0.33 during trading hours on Monday, reaching $36.56. 142,771 shares of the company’s stock were exchanged, compared to its average volume of 667,108. The firm’s 50 day simple moving average is $36.64 and its 200 day simple moving average is $34.30. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $39.08. The firm has a market capitalization of $4.47 billion, a PE ratio of 78.76, a PEG ratio of 3.43 and a beta of 0.57.
Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.48). The business had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. Analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.
Phillips Edison & Company, Inc. Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a $0.1025 dividend. The ex-dividend date is Tuesday, October 15th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 annualized dividend and a dividend yield of 3.36%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.
About Phillips Edison & Company, Inc.
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.
Featured Stories
- Five stocks we like better than Phillips Edison & Company, Inc.
- What is a SEC Filing?
- Whirlpool’s High Dividend Yield Is Too Good to Pass Up
- The How and Why of Investing in Gold Stocks
- Holiday Spending Boom Ahead: 3 BNPL Stocks Poised for Gains
- Market Cap Calculator: How to Calculate Market Cap
- Boeing: A Perfect Storm of Trouble Is a Loaded Buying Opportunity
Receive News & Ratings for Phillips Edison & Company Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips Edison & Company Inc. and related companies with MarketBeat.com's FREE daily email newsletter.