JPMorgan Chase & Co. Cuts Phillips Edison & Company, Inc. (NASDAQ:PECO) Price Target to $40.00

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its target price reduced by research analysts at JPMorgan Chase & Co. from $41.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.56% from the company’s previous close.

Several other brokerages have also recently weighed in on PECO. 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. Mizuho boosted their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Compass Point raised their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Phillips Edison & Company, Inc. Stock Down 1.4 %

NASDAQ PECO traded down $0.51 during trading on Tuesday, hitting $36.18. 262,976 shares of the stock traded hands, compared to its average volume of 419,463. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The firm has a 50-day simple moving average of $38.61 and a 200-day simple moving average of $36.71. The company has a market capitalization of $4.44 billion, a P/E ratio of 78.65, a price-to-earnings-growth ratio of 3.60 and a beta of 0.59.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the prior year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Institutional Trading of Phillips Edison & Company, Inc.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the third quarter worth approximately $28,000. Legacy Investment Solutions LLC bought a new position in Phillips Edison & Company, Inc. in the third quarter worth approximately $36,000. Blue Trust Inc. increased its holdings in 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 purchasing an additional 325 shares during the period. GAMMA Investing LLC raised its position in 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 purchasing an additional 803 shares in the last quarter. Finally, Tsfg LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth $127,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.