Analysts Set Phillips Edison & Company, Inc. (NASDAQ:PECO) Target Price at $35.25

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) have received an average rating of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $33.40.

Several research firms have recently commented on PECO. Wells Fargo & Company began coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday. They issued an “equal weight” rating and a $31.00 price target on the stock. Mizuho lowered their price target on shares of Phillips Edison & Company, Inc. from $35.00 to $30.00 in a research report on Thursday. Finally, The Goldman Sachs Group assumed coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, March 21st. They issued a “buy” rating and a $38.00 price target on the stock.

Insider Buying and Selling at Phillips Edison & Company, Inc.

In related news, Director Leslie T. Chao purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were bought at an average price of $29.18 per share, for a total transaction of $291,800.00. Following the acquisition, the director now directly owns 45,426 shares in the company, valued at $1,325,530.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.95% of the stock is owned by company insiders.

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

Hedge funds have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its stake in shares of Phillips Edison & Company, Inc. by 10.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 113,990 shares of the company’s stock valued at $3,197,000 after acquiring an additional 10,730 shares during the period. Teacher Retirement System of Texas increased its stake in Phillips Edison & Company, Inc. by 8.3% during the 3rd quarter. Teacher Retirement System of Texas now owns 19,698 shares of the company’s stock worth $553,000 after buying an additional 1,510 shares during the period. Resources Investment Advisors LLC. increased its stake in Phillips Edison & Company, Inc. by 0.7% during the 3rd quarter. Resources Investment Advisors LLC. now owns 58,572 shares of the company’s stock worth $1,643,000 after buying an additional 400 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Phillips Edison & Company, Inc. during the 4th quarter worth $69,000. Finally, Ensign Peak Advisors Inc purchased a new stake in Phillips Edison & Company, Inc. during the 3rd quarter worth $673,000. Hedge funds and other institutional investors own 70.90% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $28.14 on Tuesday. The company’s 50 day simple moving average is $30.75 and its 200-day simple moving average is $31.92. The firm has a market capitalization of $3.30 billion, a PE ratio of 59.87, a P/E/G ratio of 3.12 and a beta of 0.54. Phillips Edison & Company, Inc. has a 12 month low of $27.07 and a 12 month high of $35.90.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 17th will be given a dividend of $0.0933 per share. The ex-dividend date of this dividend is Friday, July 14th. This represents a $1.12 dividend on an annualized basis and a yield of 3.98%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 238.30%.

About Phillips Edison & Company, Inc.

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Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.