Wells Fargo & Company Issues Pessimistic Forecast for Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target reduced by stock analysts at Wells Fargo & Company from $39.00 to $37.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 0.79% from the stock’s previous close.

Several other analysts have also commented on PECO. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Mizuho increased their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Phillips Edison & Company, Inc. Trading Up 1.2 %

Phillips Edison & Company, Inc. stock opened at $36.71 on Wednesday. The company has a 50-day moving average price of $37.73 and a 200 day moving average price of $37.10. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The stock has a market cap of $4.50 billion, a P/E ratio of 79.80, a PEG ratio of 3.13 and a beta of 0.59.

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

A number of institutional investors have recently modified their holdings of PECO. Xponance Inc. boosted its holdings in Phillips Edison & Company, Inc. by 6.3% during the 2nd quarter. Xponance Inc. now owns 7,789 shares of the company’s stock valued at $255,000 after acquiring an additional 465 shares during the period. Marshall Wace LLP acquired a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth about $2,527,000. Millennium Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the second quarter valued at approximately $8,397,000. The Manufacturers Life Insurance Company grew its holdings in shares of Phillips Edison & Company, Inc. by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 71,493 shares of the company’s stock valued at $2,339,000 after purchasing an additional 3,830 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its stake in Phillips Edison & Company, Inc. by 343.2% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,036 shares of the company’s stock worth $884,000 after buying an additional 20,936 shares during the period. 80.70% of the stock is owned by institutional investors and hedge funds.

About Phillips Edison & Company, Inc.

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.