Analyst Juan C. Sanabria of BMO Capital maintained a Hold rating on Phillips Edison & Company, retaining the price target of $40.00.
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Juan C. Sanabria’s rating is based on a combination of factors, reflecting a balanced view of Phillips Edison & Company’s current financial position and future prospects. The company reported strong core earnings for the third quarter, with a notable increase in same-store net operating income (SSNOI). However, despite the positive earnings report and an upward revision in core earnings guidance, the SSNOI guidance remains conservative, suggesting a potential slowdown in growth in the coming quarter.
Additionally, while leasing activity and acquisition efforts have been solid, the company’s cost of capital has become less favorable, which could impact future growth and investment opportunities. These mixed signals, with strong current performance but cautious future outlooks, support Sanabria’s decision to maintain a Hold rating, indicating that investors might consider waiting for more favorable conditions before making significant investment changes.
According to TipRanks, C. Sanabria is a 2-star analyst with an average return of 0.9% and a 50.35% success rate. C. Sanabria covers the Real Estate sector, focusing on stocks such as Healthpeak Properties, Ventas, and Brixmor Property.
In another report released on October 21, Wells Fargo also initiated coverage with a Hold rating on the stock with a $36.00 price target.