Mizuho analyst Haendel St. Juste lowered the firm’s price target on Phillips Edison to $35 from $36 and keeps a Neutral rating on the shares. The analyst believes shopping centers “can be a net winner” into fiscal 2024, despite consumer concerns and an uncertain macro outlook. Leasing has remained strong and from a broad base of tenants, and the sector should benefit from a defensive tenancy, low supply / higher retention and less near-term tenant risk into 2024, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on PECO:
- Phillips Edison & Company to Host Investment Community Day
- Phillips Edison management to meet with KeyBanc
- Phillips Edison & Company Declares Monthly Dividend Distributions
- Phillips Edison narrows FY23 core FFO view to $2.31-$2.35 from $2.30-$2.36
- Phillips Edison & Company Reports Third Quarter 2023 Results and Updates Full Year Earnings Guidance