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 report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

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

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $36.29 on Wednesday. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The company has a market cap of $4.45 billion, a P/E ratio of 78.89, a PEG ratio of 3.13 and a beta of 0.59. The stock’s fifty day moving average price is $37.78 and its 200-day moving average price is $37.10.

Phillips Edison & Company, Inc. Increases Dividend

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

Institutional Trading of Phillips Edison & Company, Inc.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 6.3% during the second quarter. Xponance Inc. now owns 7,789 shares of the company’s stock valued at $255,000 after buying an additional 465 shares during the last quarter. Marshall Wace LLP purchased a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at $2,527,000. Millennium Management LLC purchased a new position in Phillips Edison & Company, Inc. during the 2nd quarter valued at $8,397,000. The Manufacturers Life Insurance Company lifted its position in shares of Phillips Edison & Company, Inc. by 5.7% during the second quarter. The Manufacturers Life Insurance Company now owns 71,493 shares of the company’s stock worth $2,339,000 after purchasing an additional 3,830 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 343.2% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,036 shares of the company’s stock valued at $884,000 after purchasing an additional 20,936 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.

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.