Phillips Edison Upgraded to “Hold” by Wall Street Zen Analysts

Phillips Edison & Company, Inc. (NASDAQ: PECO) has received an upgrade from equities researchers at Wall Street Zen, moving from a “sell” rating to a “hold” rating, according to a research report released on October 21, 2023. This change comes amidst a series of evaluations from various financial analysts regarding the company’s stock performance.

Recent Analyst Ratings

Other financial institutions have also weighed in on Phillips Edison. Wells Fargo & Company initiated coverage on the company on October 21, issuing an “equal weight” rating with a target price set at $36.00. Meanwhile, Barclays raised its target price from $36.00 to $38.00 while maintaining an “equal weight” rating in a report dated October 6, 2023.

Weiss Ratings reaffirmed a “hold (c+)” rating on Phillips Edison on October 8, 2023. In contrast, Mizuho lowered its price target from $38.00 to $37.00 but continued to provide an “outperform” rating in their analysis dated July 17, 2023. Additionally, LADENBURG THALM/SH SH initiated coverage with a “buy” rating and a target price of $40.00 on September 9, 2023.

Currently, three investment analysts have issued a “buy” rating, while five analysts recommend holding the stock. Data from MarketBeat.com indicates that Phillips Edison has an average rating of “hold” and an average target price of $38.86.

Stock Performance and Financial Data

On October 20, 2023, shares of Phillips Edison opened at $34.90, reflecting a 1.1% increase. The company boasts a market capitalization of $4.39 billion and a price-to-earnings ratio of 52.88. Its PEG ratio stands at 1.51, and the stock has a beta of 0.53. The 50-day moving average price is $34.57 while the two-hundred day moving average is $34.77.

Over the past year, Phillips Edison has seen a low of $32.40 and a high of $40.12. The company recently announced its quarterly earnings on October 23, 2023, reporting earnings per share (EPS) of $0.20, falling short of analysts’ consensus estimates of $0.64 by $0.44. Revenue for the quarter was $182.67 million, surpassing the expected $177.19 million.

Despite the earnings miss, the firm reported a year-on-year revenue increase of 10.4%. During the same quarter last year, the company posted an EPS of $0.62. For the fiscal year 2025, Phillips Edison has set guidance at an EPS range of $0.620 to $0.650, with analysts forecasting an EPS of $2.55 for the current year.

Institutional Investment Trends

Recent activity from institutional investors shows a growing interest in Phillips Edison. Several hedge funds have adjusted their stakes in the company. Assetmark Inc. purchased a new position valued at approximately $28,000 during the second quarter. Jones Financial Companies Lllp significantly increased its stake by 2,590.0% during the third quarter, now holding 1,076 shares valued at $37,000.

Hantz Financial Services Inc. also boosted its position by 418.1%, owning 1,119 shares worth $38,000 after acquiring an additional 903 shares. Quarry LP expanded its position by an impressive 21,362.5%, now owning 1,717 shares valued at $63,000. Lastly, EverSource Wealth Advisors LLC increased its stake by 49.7%, owning 2,604 shares valued at $91,000 following a recent acquisition.

Overall, institutional investors currently hold approximately 80.70% of Phillips Edison & Company, Inc. stock, reflecting strong confidence in the company’s future performance.

Phillips Edison & Company, Inc. specializes in real estate investment, focusing on the ownership and operation of shopping centers. The company also offers investment management services, including property management and advisory services, further diversifying its portfolio, which consists of well-occupied, grocery-anchored neighborhood and community shopping centers.