Phillips Edison & Company, Inc. (NASDAQ:PECO) Sees Large Decrease in Short Interest

Phillips Edison & Company, Inc. (NASDAQ:PECO) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 1,900,000 shares, a drop of 35.2% from the December 31st total of 2,930,000 shares. Based on an average trading volume of 676,300 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.6% of the company’s shares are sold short.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ PECO opened at $36.93 on Wednesday. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 80.28, a price-to-earnings-growth ratio of 3.13 and a beta of 0.59. The company’s 50-day simple moving average is $37.83 and its two-hundred day simple moving average is $37.11. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were given a dividend of $0.1025 per share. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. The ex-dividend date was Monday, December 16th. This represents a yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 267.39%.

Wall Street Analyst Weigh In

Several research firms recently commented on PECO. Mizuho raised their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in Phillips Edison & Company, Inc. by 0.3% during the 3rd quarter. State Street Corp now owns 7,068,684 shares of the company’s stock valued at $267,289,000 after purchasing an additional 18,429 shares during the period. Geode Capital Management LLC increased its position in Phillips Edison & Company, Inc. by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock valued at $120,347,000 after purchasing an additional 19,205 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Phillips Edison & Company, Inc. by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after buying an additional 102,519 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in shares of Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after buying an additional 492,160 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Phillips Edison & Company, Inc. by 16.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after buying an additional 179,775 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

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.