Phillips Edison & Company, Inc. (NASDAQ:PECO) Given New $38.00 Price Target at Mizuho

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its target price cut by Mizuho from $41.00 to $38.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 5.53% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company cut their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Stock Down 0.3 %

Shares of PECO opened at $36.01 on Tuesday. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The firm’s fifty day moving average is $36.65 and its two-hundred day moving average is $37.34. The stock has a market cap of $4.51 billion, a PE ratio of 72.02, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. As a group, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

A number of institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in Phillips Edison & Company, Inc. during the 4th quarter valued at approximately $55,977,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 408.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company’s stock valued at $28,879,000 after buying an additional 615,076 shares during the period. JPMorgan Chase & Co. raised its position in shares of Phillips Edison & Company, Inc. by 53.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company’s stock worth $65,084,000 after purchasing an additional 606,055 shares during the period. Duff & Phelps Investment Management Co. raised its position in shares of Phillips Edison & Company, Inc. by 50.1% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after purchasing an additional 492,160 shares during the period. Finally, ExodusPoint Capital Management LP raised its position in shares of Phillips Edison & Company, Inc. by 341.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 499,336 shares of the company’s stock worth $18,705,000 after purchasing an additional 386,145 shares during the period. 80.70% of the stock is currently owned by institutional investors.

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.