Wells Fargo & Company Begins Coverage on Phillips Edison & Company, Inc. (NASDAQ:PECO)

Stock analysts at Wells Fargo & Company started coverage on shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in a research note issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “equal weight” rating and a $36.00 price target on the stock. Wells Fargo & Company‘s target price points to a potential upside of 3.63% from the company’s current price.

PECO has been the topic of a number of other reports. Mizuho lowered their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Barclays raised their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. UBS Group assumed coverage on shares of Phillips Edison & Company, Inc. in a research note on Friday, October 17th. They set a “neutral” rating and a $37.00 price target on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Wall Street Zen cut shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.86.

Phillips Edison & Company, Inc. Trading Up 0.3%

Shares of NASDAQ PECO opened at $34.74 on Tuesday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 63.16, a PEG ratio of 1.18 and a beta of 0.54. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12. The company’s 50-day moving average price is $34.58 and its 200 day moving average price is $34.85.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm 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 firm’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.59 EPS. As a group, research analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Merit Financial Group LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 47.1% during the 3rd quarter. Merit Financial Group LLC now owns 10,472 shares of the company’s stock worth $360,000 after acquiring an additional 3,354 shares during the period. Aljian Capital Management LLC purchased a new position in Phillips Edison & Company, Inc. in the third quarter valued at approximately $277,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Phillips Edison & Company, Inc. by 8.1% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 41,188 shares of the company’s stock valued at $1,414,000 after buying an additional 3,100 shares during the period. Columbus Macro LLC purchased a new position in Phillips Edison & Company, Inc. in the third quarter valued at approximately $205,000. Finally, CWM LLC raised its holdings in Phillips Edison & Company, Inc. by 32.4% in the third quarter. CWM LLC now owns 26,185 shares of the company’s stock valued at $899,000 after buying an additional 6,408 shares during the period. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

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.