Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $41.00 to $43.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.13% from the company’s previous close.
PECO has been the subject of several other research reports. Griffin Securities set a $44.00 price target on shares of Phillips Edison & Company, Inc. in a research report on Monday, September 21st. Weiss Ratings lowered shares of Phillips Edison & Company, Inc. from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. The Goldman Sachs Group set a $44.00 price objective on shares of Phillips Edison & Company, Inc. in a report on Wednesday, October 7th. Barclays dropped their price objective on shares of Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, September 28th. Finally, Wells Fargo & Company dropped their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.90.
Get Our Latest Research Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Trading Down 0.6%
NASDAQ PECO traded down $0.24 during trading hours on Thursday, hitting $40.90. 1,290,779 shares of the company’s stock were exchanged, compared to its average volume of 989,196. The stock has a 50-day simple moving average of $38.16 and a 200 day simple moving average of $39.23. Phillips Edison & Company, Inc. has a 1-year low of $33.85 and a 1-year high of $44.38. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 2.37 and a beta of 0.54.
Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) last issued its quarterly earnings results on Monday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.20). The business had revenue of $193.09 million during the quarter, compared to analyst estimates of $190.17 million. Phillips Edison & Company, Inc. had a net margin of 23.87% and a return on equity of 6.90%. Phillips Edison & Company, Inc.’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $0.65 earnings per share. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.77 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Phillips Edison & Company, Inc. by 216.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 339,781 shares of the company’s stock worth $12,687,000 after buying an additional 232,401 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Phillips Edison & Company, Inc. during the second quarter valued at $6,032,000. Arrowstreet Capital Limited Partnership grew its stake in Phillips Edison & Company, Inc. by 34.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 483,308 shares of the company’s stock valued at $18,085,000 after acquiring an additional 123,601 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Phillips Edison & Company, Inc. during the second quarter valued at $3,768,000. Finally, First Trust Advisors LP increased its holdings in Phillips Edison & Company, Inc. by 210.6% in the 1st quarter. First Trust Advisors LP now owns 119,885 shares of the company’s stock valued at $4,486,000 after acquiring an additional 81,293 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.
Phillips Edison & Company, Inc. Company Profile
Phillips Edison & Company, Inc is a real estate investment trust focused on owning, operating and developing grocery-anchored shopping centers in the United States. Its properties are typically located in established communities and are designed to provide consumers with convenient access to essential goods and services.
The company’s portfolio includes neighborhood and community shopping centers anchored by grocery stores, alongside complementary tenants such as restaurants, personal care providers, medical offices and other service-oriented businesses.
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