Phillips Edison & Company, Inc. (NASDAQ:PECO) Cut to “Hold” at Zacks Investment Research

Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “Phillips Edison & Company Inc. is an owners and operators of omni-channel grocery-anchored neighborhood shopping centers. It owned equity interests in real estate properties, including wholly-owned real estate properties and shopping center properties. Phillips Edison & Company Inc. is based in CINCINNATI. “

Several other equities research analysts also recently weighed in on the company. Compass Point began coverage on Phillips Edison & Company, Inc. in a report on Friday, April 22nd. They issued a “neutral” rating and a $36.50 price objective for the company. Wells Fargo & Company upped their price target on shares of Phillips Edison & Company, Inc. from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, April 7th. Morgan Stanley downgraded shares of Phillips Edison & Company, Inc. from an “overweight” rating to an “equal weight” rating and set a $37.00 price objective on the stock. in a research report on Wednesday, March 9th. Finally, Mizuho upped their target price on shares of Phillips Edison & Company, Inc. from $34.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, February 15th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $34.50.

Shares of PECO opened at $33.51 on Thursday. Phillips Edison & Company, Inc. has a 1-year low of $26.51 and a 1-year high of $36.35. The stock has a market cap of $3.80 billion and a PE ratio of 145.70. The firm has a fifty day moving average price of $34.03 and a 200 day moving average price of $33.06.

Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.41). Phillips Edison & Company, Inc. had a net margin of 4.61% and a return on equity of 1.08%. On average, analysts anticipate that Phillips Edison & Company, Inc. will post 2.22 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at approximately $564,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. during the 1st quarter worth $261,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Phillips Edison & Company, Inc. during the 1st quarter worth $672,000. Alyeska Investment Group L.P. purchased a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at about $18,211,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at about $1,204,000. 36.58% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Company Profile (Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

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