Stocks of Phillips Edison & Company Inc. (NASDAQ:PECO) traded higher last session on Wall Street, up 0.15% to $34.13.
As we calculate the median target price by taking the range between a high of $46.00 and a low of $30.00, we find $34.00. Given the previous closing price of $34.08, this indicates a potential downside of -0.23 percent. PECO stock price is now 9.78% away from the 50-day moving average and 8.54% away from the 200-day moving average. The market capitalization of the company currently stands at $3.92B.
Brokers who have rated the stock have averaged $35.67 as their price target over the next twelve months.
With the price target of $31, Wells Fargo recently initiated with Equal Weight rating for Phillips Edison & Company Inc. (NASDAQ: PECO).
In other news, CHAO LESLIE T, Director bought 10,000 shares of the company’s stock on May 16. The stock was bought for $291,800 at an average price of $29.18. Upon completion of the transaction, the Director now directly owns 45,426 shares in the company, valued at $1.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 21, Director Massey Paul sold 9,600 shares of the business’s stock. A total of $301,632 was realized by selling the stock at an average price of $31.42. This leaves the insider owning 10,439 shares of the company worth $0.36 million. Insiders disposed of 11,999 shares of company stock worth roughly $0.41 million over the past 1 year. A total of 0.44% 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 AEW CAPITAL MANAGEMENT L P during the first quarter worth $17,599,000. POINT72 ASSET MANAGEMENT, L.P. invested $12,250,000 in shares of PECO during the first quarter. In the first quarter, NORDEA INVESTMENT MANAGEMENT AB acquired a new stake in Phillips Edison & Company Inc. valued at approximately $10,893,000. MCADAM, LLC acquired a new stake in PECO for approximately $8,376,000. SEI INVESTMENTS CO purchased a new stake in PECO valued at around $4,664,000 in the second quarter. In total, there are 433 active investors with 71.80% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $34.02 for Phillips Edison & Company Inc. (NASDAQ: PECO). During the past 12 months, Phillips Edison & Company Inc. has had a low of $27.07 and a high of $35.41. According to the stock market information, the enterprise value for the company is $6.06B, which is based on a 72.46 price-to-earnings ratio, a 7.88 price-to-earnings-growth ratio, and a beta of 0.65. The fifty day moving average price for PECO is $31.09 and a two-hundred day moving average price translates $31.45 for the stock.
The latest earnings results from Phillips Edison & Company Inc. (NASDAQ: PECO) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at $0.14, beating analysts’ expectations of $0.11 by 0.03. This compares to $0.09 EPS in the same period last year. The net profit margin was 9.40% and return on equity was 2.50% for PECO. The company reported revenue of $151.06 million for the quarter, compared to $142.16 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.26 percent. For the current quarter, analysts expect PECO to generate $147.08M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/01/2023. Investors who held shares on 07/17/2023 were paid a $0.0933 dividend. On an annualized basis, this represents a $1.12 dividend and a 3.28% percent yield. There was an ex-dividend date of 07/14/2023 for this dividend. In terms of dividend payout ratio, PECO is presently at 195.70%.
Phillips Edison & Company Inc.(PECO) Company Profile
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. PECO’s centers feature a mix of national and regional retailers providing necessity-based goods and services in fundamentally strong markets throughout the United States. PECO’s top grocery anchors include Kroger, Publix, Albertsons, and Ahold Delhaize. As of March 31, 2023, PECO managed 295 shopping centers, including 275 wholly-owned centers comprising 31.5 million square feet across 31 states, and 20 shopping centers owned in one institutional joint venture. PECO is exclusively focused on creating great omni-channel, grocery-anchored shopping experiences and improving communities, one neighborhood shopping center at a time.
