Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its target price boosted by research analysts at JPMorgan Chase & Co. from $41.00 to $43.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 6.02% from the stock’s previous close.

Several other research analysts also recently commented on PECO. Evercore reaffirmed an “outperform” rating on shares of Phillips Edison & Company, Inc. in a research note on Monday, September 21st. Mizuho reduced their target price on shares of Phillips Edison & Company, Inc. from $43.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, September 24th. Weiss Ratings cut shares of Phillips Edison & Company, Inc. from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. Barclays lowered their price target on shares of Phillips Edison & Company, Inc. from $46.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, September 28th. Finally, Morgan Stanley upped their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.90.

Phillips Edison & Company, Inc. Stock Down 0.8%

NASDAQ:PECO traded down $0.34 on Thursday, hitting $40.56. The stock had a trading volume of 777,144 shares, compared to its average volume of 1,249,667. The business’s 50-day simple moving average is $38.21 and its two-hundred day simple moving average is $39.28. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 2.37 and a beta of 0.54. Phillips Edison & Company, Inc. has a 52-week low of $34.22 and a 52-week high of $44.38.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Monday, October 26th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.20). Phillips Edison & Company, Inc. had a net margin of 23.87% and a return on equity of 6.90%. The business had revenue of $193.09 million for the quarter, compared to analysts’ expectations of $190.17 million. During the same period in the previous year, the company earned $0.65 EPS. Phillips Edison & Company, Inc.’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.77 EPS for the current year.

Institutional Trading of Phillips Edison & Company, Inc.

A number of hedge funds have recently added to or reduced their stakes in the business. Waverly Advisors LLC increased its holdings in shares of Phillips Edison & Company, Inc. by 0.8% in the 1st quarter. Waverly Advisors LLC now owns 35,466 shares of the company’s stock valued at $1,327,000 after acquiring an additional 269 shares during the period. Money Concepts Capital Corp boosted its position in Phillips Edison & Company, Inc. by 0.4% during the third quarter. Money Concepts Capital Corp now owns 64,966 shares of the company’s stock valued at $2,426,000 after purchasing an additional 277 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in Phillips Edison & Company, Inc. by 2.6% during the second quarter. Integrated Wealth Concepts LLC now owns 11,205 shares of the company’s stock valued at $466,000 after purchasing an additional 281 shares in the last quarter. GAMMA Investing LLC boosted its position in Phillips Edison & Company, Inc. by 5.9% during the second quarter. GAMMA Investing LLC now owns 5,245 shares of the company’s stock valued at $218,000 after purchasing an additional 292 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in Phillips Edison & Company, Inc. by 0.5% in the third quarter. Illinois Municipal Retirement Fund now owns 64,046 shares of the company’s stock valued at $2,391,000 after purchasing an additional 336 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc is a real estate investment trust focused on owning, operating and developing grocery-anchored shopping centers in the United States. Its properties are typically located in established communities and are designed to provide consumers with convenient access to essential goods and services.

The company’s portfolio includes neighborhood and community shopping centers anchored by grocery stores, alongside complementary tenants such as restaurants, personal care providers, medical offices and other service-oriented businesses.