Mizuho Issues Pessimistic Forecast for Phillips Edison & Company, Inc. (NASDAQ:PECO) Stock Price

Phillips Edison & Company, Inc. (NASDAQ:PECO) had its price target reduced by equities researchers at Mizuho from $38.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 5.93% from the stock’s current price.

PECO has been the topic of a number of other reports. Barclays started coverage on Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They set an “equal weight” rating and a $37.00 price objective on the stock. Wells Fargo & Company cut their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and an average target price of $38.50.

Phillips Edison & Company, Inc. Stock Down 0.2%

Phillips Edison & Company, Inc. stock opened at $34.93 on Thursday. The firm has a fifty day simple moving average of $35.20 and a two-hundred day simple moving average of $35.64. The company has a market capitalization of $4.38 billion, a PE ratio of 61.28, a P/E/G ratio of 1.23 and a beta of 0.55. Phillips Edison & Company, Inc. has a twelve month low of $32.40 and a twelve month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $178.31 million during the quarter, compared to analysts’ expectations of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. Phillips Edison & Company, Inc.’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. As a group, equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. PFG Investments LLC increased its holdings in Phillips Edison & Company, Inc. by 3.8% in the 2nd quarter. PFG Investments LLC now owns 28,420 shares of the company’s stock worth $996,000 after buying an additional 1,053 shares during the period. State of Alaska Department of Revenue boosted its stake in Phillips Edison & Company, Inc. by 5.4% during the second quarter. State of Alaska Department of Revenue now owns 135,843 shares of the company’s stock worth $4,756,000 after buying an additional 6,948 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Phillips Edison & Company, Inc. by 51.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,713 shares of the company’s stock worth $165,000 after buying an additional 1,611 shares during the last quarter. A&I Financial Services LLC raised its holdings in Phillips Edison & Company, Inc. by 3.9% in the 2nd quarter. A&I Financial Services LLC now owns 11,419 shares of the company’s stock valued at $400,000 after buying an additional 433 shares during the period. Finally, My Legacy Advisors LLC lifted its stake in Phillips Edison & Company, Inc. by 5.6% during the second quarter. My Legacy Advisors LLC now owns 47,367 shares of the company’s stock worth $1,637,000 after purchasing an additional 2,514 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

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.