Phillips Edison & Company Inc (NASDAQ:PECO) Short Interest Up 380.4% in September

Phillips Edison & Company Inc (NASDAQ:PECO) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 978,500 shares, a growth of 380.4% from the September 15th total of 203,700 shares. Based on an average daily volume of 456,200 shares, the short-interest ratio is currently 2.1 days. Currently, 1.0% of the shares of the company are sold short.

PECO opened at $32.07 on Thursday. Phillips Edison & Company Inc has a 12-month low of $26.51 and a 12-month high of $32.54. The stock’s 50 day simple moving average is $30.19.

Phillips Edison & Company Inc (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $133.07 million for the quarter. As a group, equities analysts predict that Phillips Edison & Company Inc will post 2.02 earnings per share for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Monday, November 1st. Shareholders of record on Friday, October 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, October 14th. This is a positive change from Phillips Edison & Company Inc’s previous monthly dividend of $0.09. This represents a $1.08 dividend on an annualized basis and a yield of 3.37%.

A hedge fund recently bought a new stake in Phillips Edison & Company Inc stock. Koshinski Asset Management Inc. bought a new stake in shares of Phillips Edison & Company Inc (NASDAQ:PECO) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,950 shares of the company’s stock, valued at approximately $336,000.

A number of analysts recently commented on the stock. Mizuho assumed coverage on shares of Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued a “buy” rating and a $33.00 target price for the company. Bank of America assumed coverage on shares of Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued a “buy” rating and a $32.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued an “overweight” rating and a $32.00 target price for the company. KeyCorp assumed coverage on shares of Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued a “sector weight” rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Phillips Edison & Company Inc in a research note on Monday, August 9th. They issued a “buy” rating and a $36.00 target price for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips Edison & Company Inc has a consensus rating of “Buy” and an average price target of $32.86.

About Phillips Edison & Company Inc

Phillips Edison & Company Inc is an owners and operators of omni-channel grocery-anchored neighborhood shopping centers. It owned equity interests in real estate properties, including wholly-owned real estate properties and shopping center properties. Phillips Edison & Company Inc is based in CINCINNATI.

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