Phillips Edison & Company, Inc. (NASDAQ:PECO) Given Consensus Rating of “Hold” by Brokerages

Phillips Edison & Company, Inc. (NASDAQ:PECO) has been given a consensus recommendation of “Hold” by the seven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $38.14.

A number of analysts have recently commented on PECO shares. Deutsche Bank Aktiengesellschaft assumed coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, Mizuho upgraded Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $37.00 in a research report on Friday, February 23rd.

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

Large investors have recently bought and sold shares of the company. ClariVest Asset Management LLC boosted its position 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 worth $981,000 after acquiring an additional 29,231 shares during the last quarter. LPL Financial LLC boosted 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 worth $11,673,000 after acquiring an additional 93,719 shares during the last quarter. Mutual of America Capital Management LLC boosted 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 worth $2,636,000 after acquiring an additional 27,641 shares during the last quarter. FMR LLC boosted 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 worth $163,481,000 after acquiring an additional 186,651 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in Phillips Edison & Company, Inc. by 7.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 294,243 shares of the company’s stock worth $10,905,000 after acquiring an additional 21,481 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock opened at $32.41 on Friday. The stock has a market cap of $3.96 billion, a PE ratio of 70.46, a price-to-earnings-growth ratio of 3.65 and a beta of 0.55. The stock has a 50-day moving average of $34.80 and a 200-day moving average of $35.03. Phillips Edison & Company, Inc. has a one year low of $27.85 and a one 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 given a $0.0975 dividend. The ex-dividend date is Friday, April 12th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 annualized dividend and a dividend yield of 3.61%. Phillips Edison & Company, Inc.’s payout ratio is currently 254.35%.

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.