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

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target lowered by stock analysts at Wells Fargo & Company from $37.00 to $36.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 0.98% from the company’s previous close.

Other analysts also recently issued research reports about the company. Mizuho lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Stock Down 0.3 %

Shares of PECO opened at $35.65 on Wednesday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The stock has a market capitalization of $4.46 billion, a P/E ratio of 71.30, a P/E/G ratio of 1.70 and a beta of 0.57. The company has a 50 day moving average of $36.09 and a 200-day moving average of $37.29.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in Phillips Edison & Company, Inc. during the third quarter worth about $36,000. State of Wyoming purchased a new position in Phillips Edison & Company, Inc. in the 4th quarter worth approximately $54,000. Allworth Financial LP increased its stake in Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after acquiring an additional 788 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Phillips Edison & Company, Inc. during the 4th quarter valued at about $68,000. Finally, FIL Ltd lifted its holdings in shares of Phillips Edison & Company, Inc. by 17.8% in the 4th quarter. FIL Ltd now owns 2,155 shares of the company’s stock worth $81,000 after acquiring an additional 325 shares during the last quarter. 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.