In yesterday’s Wall Street session, Phillips Edison & Company Inc. (NASDAQ:PECO) shares traded at $32.76, down -2.35% from the previous session.
As we calculate the median target price by taking the range between a high of $46.00 and a low of $32.00, we find $36.00. Given the previous closing price of $33.55, this indicates a potential upside of 7.3 percent. PECO stock price is now -1.13% away from the 50-day moving average and 1.13% away from the 200-day moving average. The market capitalization of the company currently stands at $3.81B.
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Brokers who have rated the stock have averaged $36.88 as their price target over the next twelve months.
On July 21, 2022, Mizuho Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $35, while ‘Credit Suisse’ rates the stock as ‘Neutral’.
In other news, Massey Paul, Director sold 9,600 shares of the company’s stock on Nov 21. The stock was sold for $301,632 at an average price of $31.42. Upon completion of the transaction, the Director now directly owns 10,439 shares in the company, valued at $0.34 million. Insiders disposed of 13,139 shares of company stock worth roughly $0.43 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PECO stock. A new stake in Phillips Edison & Company Inc. shares was purchased by CENTERSQUARE INVESTMENT MANAGEMENT LLC during the first quarter worth $33,392,000. AMERITAS ADVISORY SERVICES, LLC invested $8,019,000 in shares of PECO during the first quarter. In the first quarter, FORWARD MANAGEMENT, LLC acquired a new stake in Phillips Edison & Company Inc. valued at approximately $2,621,000. WESTWOOD HOLDINGS GROUP INC acquired a new stake in PECO for approximately $2,621,000. QUBE RESEARCH & TECHNOLOGIES LTD purchased a new stake in PECO valued at around $1,624,000 in the second quarter. In total, there are 424 active investors with 71.80% ownership of the company’s stock.
On Thursday morning Phillips Edison & Company Inc. (NASDAQ: PECO) stock kicked off with the opening price of $33.57. During the past 12 months, Phillips Edison & Company Inc. has had a low of $27.07 and a high of $36.31. The fifty day moving average price for PECO is $33.13 and a two-hundred day moving average price translates $32.39 for the stock.
The latest earnings results from Phillips Edison & Company Inc. (NASDAQ: PECO) was released for Sep, 2022. According to the REIT – Retail Company, earnings per share came in at $0.09, beating analysts’ expectations of $0.08 by 0.01. This compares to -$0.05 EPS in the same period last year. The net profit margin was 8.40% and return on equity was 2.20% for PECO. The company reported revenue of $145.04 million for the quarter, compared to $137.06 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.82 percent. For the current quarter, analysts expect PECO to generate $137.58M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/01/2023. Investors who held shares on 04/17/2023 were paid a $0.0933 dividend. On an annualized basis, this represents a $1.12 dividend and a 3.42% percent yield. There was an ex-dividend date of 04/14/2023 for this dividend. In terms of dividend payout ratio, PECO is presently at 196.60%.
Phillips Edison & Company Inc.(PECO) Company Profile
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. Through its vertically-integrated operating platform, the Company manages a portfolio of 309 properties, including 283 wholly-owned properties comprising approximately 31.7 million square feet across 31 states (as of September 30, 2020). PECO has generated strong operating results over its 29+ year history and has partnered with leading institutional commercial real estate investors, including TPG Real Estate and The Northwestern Mutual Life Insurance Company. The Company remains exclusively focused on creating great grocery-anchored shopping experiences and improving the communities it serves one center at a time. Phillips Edison & Company Ltd. operates as a subsidiary of Phillips Edison Grocery Center Operating Partnership I, L.P.
