Phillips Edison & Company, Inc. (NASDAQ:PECO) Receives $38.14 Consensus Price Target from Analysts

Phillips Edison & Company, Inc. (NASDAQ:PECO) has received an average rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $38.14.

PECO has been the topic of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They set a “buy” rating and a $41.00 price target on the stock. Mizuho raised shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $35.00 to $37.00 in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $32.41 on Friday. Phillips Edison & Company, Inc. has a 1 year low of $27.85 and a 1 year high of $37.92. The firm has a market cap of $3.96 billion, a PE ratio of 70.46, a PEG ratio of 3.65 and a beta of 0.55. The company has a 50 day simple moving average of $34.80 and a two-hundred day simple moving average of $35.03.

Phillips Edison & Company, Inc. Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in shares of Phillips Edison & Company, Inc. by 46.4% in the third quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock worth $29,000 after buying an additional 275 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Phillips Edison & Company, Inc. by 0.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,862 shares of the company’s stock worth $2,074,000 after buying an additional 306 shares during the period. Vident Investment Advisory LLC increased its stake in shares of Phillips Edison & Company, Inc. by 0.9% in the fourth quarter. Vident Investment Advisory LLC now owns 35,349 shares of the company’s stock worth $1,126,000 after buying an additional 325 shares during the period. M&T Bank Corp increased its position in Phillips Edison & Company, Inc. by 3.5% during the 3rd quarter. M&T Bank Corp now owns 10,033 shares of the company’s stock valued at $281,000 after purchasing an additional 337 shares during the period. Finally, Demars Financial Group LLC increased its position in Phillips Edison & Company, Inc. by 2.8% during the 3rd quarter. Demars Financial Group LLC now owns 12,993 shares of the company’s stock valued at $436,000 after purchasing an additional 357 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

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.