Phillips Edison & Company, Inc. (NASDAQ:PECO) Short Interest Down 36.6% in September

Phillips Edison & Company, Inc. (NASDAQ:PECO) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 2,720,000 shares, a decrease of 36.6% from the September 15th total of 4,290,000 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 721,600 shares, the days-to-cover ratio is presently 3.8 days.

Phillips Edison & Company, Inc. Trading Up 1.4 %

NASDAQ:PECO traded up $0.49 during trading hours on Monday, hitting $36.72. The stock had a trading volume of 212,727 shares, compared to its average volume of 667,462. The company has a market cap of $4.49 billion, a PE ratio of 78.76, a price-to-earnings-growth ratio of 3.43 and a beta of 0.57. The business has a 50 day simple moving average of $36.64 and a two-hundred day simple moving average of $34.30. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.48). The firm had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. Research analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.35%. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Analyst Upgrades and Downgrades

Several research firms have commented on PECO. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho increased their price target on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Compass Point boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.50.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. acquired a new position in Phillips Edison & Company, Inc. in the second quarter worth about $26,000. Creekmur Asset Management LLC acquired a new position in Phillips Edison & Company, Inc. in the fourth quarter worth $32,000. Hobbs Group Advisors LLC bought a new stake in Phillips Edison & Company, Inc. during the second quarter valued at $39,000. PFG Private Wealth Management LLC bought a new stake in Phillips Edison & Company, Inc. during the second quarter valued at $62,000. Finally, Blue Trust Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after purchasing an additional 1,290 shares during the period. 80.70% of the stock is currently 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.