Mizuho raised the firm’s price target on Phillips Edison (PECO) to $41 from $39 and keeps an Outperform rating on the shares. The firm remains “constructive” on shopping center real estate investment trusts into 2025 and believes the sector is a “low-risk, fairly-priced alternative” for investors in a broader REIT sector facing higher interest rates, as well as tenant credit, tariffs, labor and over-supply questions. Shopping center REITs benefit from several tailwinds, including favorable supply/demand, low visible tenant and credit risk, a positively inflecting growth profile, and private market support, the analyst tells investors in a research note.
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