Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Gets Price Target Boost from UBS Group

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target lifted by UBS Group from $42.00 to $45.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group‘s price objective suggests a potential upside of 9.41% from the stock’s previous close.

A number of other brokerages have also issued reports on PECO. The Goldman Sachs Group set a $44.00 target price on Phillips Edison & Company, Inc. in a research report on Wednesday, October 7th. JPMorgan Chase & Co. upped their price target on Phillips Edison & Company, Inc. from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, November 5th. Evercore reaffirmed an “outperform” rating on shares of Phillips Edison & Company, Inc. in a research note on Monday, September 21st. Mizuho lowered their price objective on shares of Phillips Edison & Company, Inc. from $43.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, September 24th. Finally, Griffin Securities set a $44.00 price objective on shares of Phillips Edison & Company, Inc. in a research report on Monday, September 21st. Three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Hold” and a consensus price target of $43.20.

Phillips Edison & Company, Inc. Price Performance

PECO stock traded down $0.07 during trading hours on Wednesday, reaching $41.13. 712,679 shares of the stock were exchanged, compared to its average volume of 986,709. The firm’s 50-day moving average is $38.30 and its 200-day moving average is $39.33. Phillips Edison & Company, Inc. has a 12 month low of $34.22 and a 12 month high of $44.38. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 2.44 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Monday, October 26th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.20). The firm had revenue of $193.09 million during the quarter, compared to the consensus estimate of $190.17 million. Phillips Edison & Company, Inc. had a net margin of 23.87% and a return on equity of 6.90%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.78 earnings per share for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Independent Advisor Alliance raised its position in shares of Phillips Edison & Company, Inc. by 4.5% in the third quarter. Independent Advisor Alliance now owns 14,918 shares of the company’s stock valued at $566,000 after buying an additional 647 shares in the last quarter. Voya Investment Management LLC raised its holdings in Phillips Edison & Company, Inc. by 73.8% in the 3rd quarter. Voya Investment Management LLC now owns 63,069 shares of the company’s stock valued at $2,355,000 after acquiring an additional 26,790 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Phillips Edison & Company, Inc. by 1.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 437,782 shares of the company’s stock valued at $16,526,000 after acquiring an additional 4,926 shares during the period. Global Retirement Partners LLC increased its position in shares of Phillips Edison & Company, Inc. by 21.2% in the third quarter. Global Retirement Partners LLC now owns 3,411 shares of the company’s stock worth $127,000 after purchasing an additional 596 shares during the period. Finally, Impax Asset Management Group plc bought a new position in shares of Phillips Edison & Company, Inc. in the third quarter worth $9,335,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc. is a real estate investment trust (REIT) that owns and operates grocery-anchored shopping centers. Its properties are designed to serve local communities, with grocery stores alongside retailers and service providers that meet everyday needs. The company’s activities include leasing and managing its centers, as well as acquiring and improving properties. Its portfolio spans markets across the United States. Founded in 1991, Phillips Edison is headquartered in Cincinnati, Ohio.