Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target Lowered to $36.00 at Compass Point

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target cut by Compass Point from $39.00 to $36.00 in a report released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on PECO. JPMorgan Chase & Co. dropped their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a neutral rating for the company in a report on Wednesday, February 14th. Mizuho upgraded shares of Phillips Edison & Company, Inc. from a neutral rating to a buy rating and increased their price objective for the company from $35.00 to $37.00 in a report on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a buy rating and a $41.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $38.14.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $32.68 on Monday. Phillips Edison & Company, Inc. has a 1 year low of $27.85 and a 1 year high of $37.92. The firm has a market capitalization of $3.99 billion, a PE ratio of 71.05, a P/E/G ratio of 3.69 and a beta of 0.55. The business’s 50 day moving average price is $34.56 and its 200-day moving average price is $35.03.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a dividend of $0.0975 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.58%. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Friday, April 12th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Institutional Investors Weigh In On Phillips Edison & Company, Inc.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its stake in shares of Phillips Edison & Company, Inc. by 1.5% in the first quarter. Commonwealth Equity Services LLC now owns 237,642 shares of the company’s stock valued at $8,524,000 after buying an additional 3,485 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Phillips Edison & Company, Inc. by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 633,707 shares of the company’s stock valued at $22,731,000 after acquiring an additional 10,767 shares during the period. Newbridge Financial Services Group Inc. grew its position in Phillips Edison & Company, Inc. by 26.4% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 7,780 shares of the company’s stock valued at $279,000 after acquiring an additional 1,625 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Phillips Edison & Company, Inc. by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 60,400 shares of the company’s stock worth $2,167,000 after purchasing an additional 600 shares during the period. Finally, Revisor Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. during the first quarter worth about $692,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.