Fintel reports that on August 8, 2023, Goldman Sachs maintained coverage of Phillips Edison & Company Inc - (NASDAQ:PECO) with a Buy recommendation.
Analyst Price Forecast Suggests 0.40% Downside
As of August 2, 2023, the average one-year price target for Phillips Edison & Company Inc - is 35.85. The forecasts range from a low of 31.31 to a high of $43.05. The average price target represents a decrease of 0.40% from its latest reported closing price of 35.99.
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The projected annual revenue for Phillips Edison & Company Inc - is 594MM, a decrease of 0.00%. The projected annual non-GAAP EPS is 0.40.
What is the Fund Sentiment?
There are 617 funds or institutions reporting positions in Phillips Edison & Company Inc -. This is an increase of 36 owner(s) or 6.20% in the last quarter. Average portfolio weight of all funds dedicated to PECO is 0.19%, a decrease of 6.90%. Total shares owned by institutions increased in the last three months by 0.50% to 96,556K shares. 
The put/call ratio of PECO is 0.05, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 9,050K shares representing 7.71% ownership of the company. In it's prior filing, the firm reported owning 9,239K shares, representing a decrease of 2.08%. The firm decreased its portfolio allocation in PECO by 0.82% over the last quarter.
Massachusetts Financial Services holds 5,926K shares representing 5.05% ownership of the company. In it's prior filing, the firm reported owning 5,907K shares, representing an increase of 0.32%. The firm increased its portfolio allocation in PECO by 0.77% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 5,145K shares representing 4.38% ownership of the company. In it's prior filing, the firm reported owning 5,205K shares, representing a decrease of 1.17%. The firm increased its portfolio allocation in PECO by 3.06% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,621K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 3,548K shares, representing an increase of 2.01%. The firm decreased its portfolio allocation in PECO by 3.46% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,070K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 3,017K shares, representing an increase of 1.74%. The firm increased its portfolio allocation in PECO by 0.07% over the last quarter.
Phillips Edison Background Information
(This description is provided by the company.)
Phillips Edison & Company, Inc. (“PECO”), an internally-managed REIT, is one of the nation’s largest owners and operators of omni-channel grocery-anchored neighborhood shopping centers. As of March 31, 2021, PECO owned equity interests in 300 real estate properties, including 278 wholly-owned real estate properties and 22 shopping center properties owned through two unconsolidated joint ventures with institutional partners.
Additional reading:
- Second Amended and Restated Credit Agreement, dated as of July 31, 2023, among Phillips Edison Grocery Center Operating Partnership I, L.P., Phillips Edison & Company, Inc., the lenders party thereto, and Bank of America, N.A., as administrative agent
- Amended and Restated Credit Agreement, dated as of July 31, 2023, among Phillips Edison Grocery Center Operating Partnership I, L.P., Phillips Edison & Company, Inc., the lenders party thereto and Capital One, National Association, as administrative agent
- Amended and Restated Credit Agreement, dated as of July 31, 2023, among Phillips Edison Grocery Center Operating Partnership I, L.P., Phillips Edison & Company, Inc., the lenders party thereto and KeyBank National Association, as administrative agent
- List of Issuers of Guaranteed Securities
- Phillips Edison & Company Reports Second Quarter 2023 Results and Raises Full Year Earnings Guidance
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
