Phillips Edison & Company, Inc. (NASDAQ:PECO) Now Covered by Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in a research note published on Tuesday morning. The brokerage issued an equal weight rating and a $36.00 target price on the stock.

A number of other analysts also recently issued reports on PECO. Barclays boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. UBS Group began coverage on shares of Phillips Edison & Company, Inc. in a report on Friday. They set a “neutral” rating and a $37.00 price target for the company. Wall Street Zen downgraded shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Mizuho cut their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. Finally, LADENBURG THALM/SH SH began coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, September 9th. They set a “buy” rating and a $40.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.86.

Phillips Edison & Company, Inc. Stock Up 0.7%

NASDAQ PECO opened at $34.62 on Tuesday. The company has a market capitalization of $4.35 billion, a P/E ratio of 62.95, a P/E/G ratio of 1.17 and a beta of 0.54. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $40.12. The firm has a 50-day moving average price of $34.57 and a two-hundred day moving average price of $34.85.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $173.47 million during the quarter, compared to the consensus estimate of $174.38 million. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. Equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, November 4th. Investors of record on Wednesday, October 15th will be given a dividend of $0.1083 per share. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 236.36%.

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

A number of institutional investors have recently added to or reduced their stakes in PECO. Janney Montgomery Scott LLC acquired a new position in Phillips Edison & Company, Inc. during the 1st quarter worth approximately $1,002,000. Asset Management One Co. Ltd. increased its position in Phillips Edison & Company, Inc. by 2.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 285,188 shares of the company’s stock worth $10,407,000 after purchasing an additional 5,762 shares in the last quarter. Aurora Private Wealth Inc. acquired a new position in Phillips Edison & Company, Inc. during the 1st quarter worth approximately $5,377,000. Sumitomo Mitsui Trust Group Inc. increased its position in Phillips Edison & Company, Inc. by 2.1% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 135,729 shares of the company’s stock worth $4,953,000 after purchasing an additional 2,785 shares in the last quarter. Finally, KBC Group NV increased its position in Phillips Edison & Company, Inc. by 27.2% during the 1st quarter. KBC Group NV now owns 5,629 shares of the company’s stock worth $205,000 after purchasing an additional 1,205 shares in the last quarter. 80.70% of the stock is currently 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.