Barclays Raises PECO Target Following Updated Estimates

Phillips Edison & Company, Inc. (NASDAQ:PECO) is included among the 13 Highest Paying Monthly Dividend Stocks to Buy.

On December 18, Barclays lifted its price target on Phillips Edison & Company, Inc. (NASDAQ:PECO) to $42 from $40 and kept an Equal Weight rating on the stock. The firm said the move followed updated estimates after PECO’s recent investor presentation.

Phillips Edison & Company, Inc. (NASDAQ:PECO) brings more than three decades of experience in grocery-anchored shopping centers, giving it a clear view of what drives performance at the property level. In its latest update, the company pointed to the strength of its portfolio demographics. The average median household income within a three-mile radius of its centers stands at about $92,000, roughly 15% higher than the US average.

Population growth across PECO’s markets has also exceeded the national pace by about 5% over the past three years. These trends support steady rent growth and help underpin long-term value creation. Looking ahead, management expects portfolio income to rise by around 26% over the next five years.

Phillips Edison & Company, Inc. (NASDAQ:PECO) focuses its acquisition strategy on grocery-anchored, necessity-based neighborhood and community shopping centers. Its nationwide portfolio now includes close to 300 properties, with plans to continue expanding. The company also highlighted strong free cash flow and EBITDA growth, largely driven by same-center NOI. That performance supports more than $300 million in net acquisitions, even after accounting for development and redevelopment spending.

Phillips Edison & Company, Inc. (NASDAQ:PECO) is a US-based REIT that owns and develops shopping centers across the country.

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