JPMorgan Chase & Co. Issues Positive Forecast for Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target raised by stock analysts at JPMorgan Chase & Co. from $41.00 to $43.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 5.13% from the company’s previous close.

A number of other research analysts have also weighed in on PECO. Wells Fargo & Company cut their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Friday, October 23rd. Griffin Securities set a $44.00 price target on shares of Phillips Edison & Company, Inc. in a research note on Monday, September 21st. The Goldman Sachs Group set a $44.00 price objective on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, October 7th. Weiss Ratings cut shares of Phillips Edison & Company, Inc. from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Finally, Mizuho dropped their price objective on shares of Phillips Edison & Company, Inc. from $43.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.90.

Phillips Edison & Company, Inc. Stock Down 0.6%

Phillips Edison & Company, Inc. stock traded down $0.24 during midday trading on Thursday, reaching $40.90. 1,290,779 shares of the stock traded hands, compared to its average volume of 989,196. The stock has a market cap of $5.26 billion, a P/E ratio of 28.40, a PEG ratio of 2.37 and a beta of 0.54. The stock’s fifty day moving average is $38.16 and its 200-day moving average is $39.23. Phillips Edison & Company, Inc. has a 12 month low of $33.85 and a 12 month high of $44.38.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Monday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.20). The firm had revenue of $193.09 million during the quarter, compared to the consensus estimate of $190.17 million. Phillips Edison & Company, Inc. had a return on equity of 6.90% and a net margin of 23.87%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.77 EPS for the current fiscal year.

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

A number of institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC bought a new stake in Phillips Edison & Company, Inc. during the 1st quarter valued at $29,000. CX Institutional boosted its stake in shares of Phillips Edison & Company, Inc. by 115.5% during the second quarter. CX Institutional now owns 724 shares of the company’s stock valued at $30,000 after purchasing an additional 388 shares in the last quarter. YANKCOM Partnership bought a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at approximately $39,000. Global Assets Advisory LLC purchased a new position in Phillips Edison & Company, Inc. during the first quarter valued at approximately $52,000. Finally, Salomon & Ludwin LLC increased its holdings in Phillips Edison & Company, Inc. by 40.2% during the third quarter. Salomon & Ludwin LLC now owns 1,387 shares of the company’s stock valued at $52,000 after buying an additional 398 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

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.