Phillips Edison & Company, Inc. (NASDAQ:PECO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $38.8333.

A number of equities analysts have recently commented on PECO shares. Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Wall Street Zen cut shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays dropped their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. Finally, LADENBURG THALM/SH SH began coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They issued a “buy” rating and a $40.00 price objective on the stock.

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

A number of institutional investors and hedge funds have recently made changes to their positions in PECO. Norges Bank acquired a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth $55,410,000. Engineers Gate Manager LP purchased a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth about $32,695,000. Nuveen LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter worth about $32,465,000. Balyasny Asset Management L.P. purchased a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth about $22,434,000. Finally, Alyeska Investment Group L.P. boosted its position in shares of Phillips Edison & Company, Inc. by 42.1% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,013,308 shares of the company’s stock worth $73,466,000 after buying an additional 596,123 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $35.60 on Monday. The firm’s fifty day simple moving average is $34.59 and its 200-day simple moving average is $35.13. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.21 and a beta of 0.55. Phillips Edison & Company, Inc. has a 12 month low of $32.40 and a 12 month high of $40.12.

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

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.1083 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. Phillips Edison & Company, Inc.’s dividend payout ratio is 223.64%.

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.