Wells Fargo & Company Cuts Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $37.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price objective lowered by Wells Fargo & Company from $39.00 to $37.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms have also issued reports on PECO. Mizuho raised their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Phillips Edison & Company, Inc. Stock Down 1.0 %

Shares of Phillips Edison & Company, Inc. stock opened at $36.33 on Wednesday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The stock has a 50 day moving average price of $37.67 and a two-hundred day moving average price of $37.12. The stock has a market capitalization of $4.45 billion, a P/E ratio of 78.98, a PEG ratio of 3.17 and a beta of 0.59.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 17th were given a dividend of $0.1025 per share. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. This represents a yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 267.39%.

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

Several large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the third quarter valued at $28,000. Legacy Investment Solutions LLC bought a new stake in Phillips Edison & Company, Inc. in the 3rd quarter valued at $36,000. Allworth Financial LP raised its stake in shares of Phillips Edison & Company, Inc. by 94.6% in the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after buying an additional 788 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 15.5% during the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after acquiring an additional 325 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Phillips Edison & Company, Inc. by 31.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,330 shares of the company’s stock valued at $126,000 after acquiring an additional 803 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

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.