Phillips Edison & Company, Inc. (NASDAQ:PECO) Reaches New 12-Month High – Still a Buy?

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) reached a new 52-week high on Thursday . The company traded as high as $37.69 and last traded at $37.5090, with a volume of 92387 shares trading hands. The stock had previously closed at $37.22.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PECO. KeyCorp reissued a “sector weight” rating on shares of Phillips Edison & Company, Inc. in a report on Thursday, December 18th. Wall Street Zen upgraded shares of Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Morgan Stanley boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Evercore ISI initiated coverage on shares of Phillips Edison & Company, Inc. in a report on Thursday, January 15th. They issued an “outperform” rating and a $41.00 target price on the stock. Finally, UBS Group lifted their price target on Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and an average target price of $38.86.

Phillips Edison & Company, Inc. Stock Performance

The company’s fifty day simple moving average is $35.47 and its two-hundred day simple moving average is $34.83. The stock has a market capitalization of $4.72 billion, a P/E ratio of 56.83, a PEG ratio of 0.93 and a beta of 0.53.

Institutional Trading of Phillips Edison & Company, Inc.

Several institutional investors have recently added to or reduced their stakes in PECO. Royal Bank of Canada increased its position in Phillips Edison & Company, Inc. by 12.8% during the 1st quarter. Royal Bank of Canada now owns 81,726 shares of the company’s stock worth $2,982,000 after buying an additional 9,250 shares during the period. AQR Capital Management LLC increased its position in Phillips Edison & Company, Inc. by 8.2% during the first quarter. AQR Capital Management LLC now owns 11,091 shares of the company’s stock worth $405,000 after acquiring an additional 845 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Phillips Edison & Company, Inc. in the 1st quarter worth about $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Phillips Edison & Company, Inc. by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company’s stock valued at $2,668,000 after purchasing an additional 3,199 shares during the period. Finally, OLD National Bancorp IN acquired a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $202,000. 80.70% of the stock is currently owned by institutional investors.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company’s investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.

In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.