A&I Financial Services LLC bought a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,986 shares of the company's stock, valued at approximately $412,000.
Other hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its position in Phillips Edison & Company, Inc. by 49.2% during the 3rd quarter. Barclays PLC now owns 279,432 shares of the company's stock valued at $10,538,000 after purchasing an additional 92,129 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter valued at $488,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company's stock valued at $78,977,000 after acquiring an additional 102,519 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Phillips Edison & Company, Inc. by 50.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company's stock worth $55,589,000 after acquiring an additional 492,160 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Phillips Edison & Company, Inc. by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 595,165 shares of the company's stock worth $22,295,000 after acquiring an additional 17,235 shares during the period. 80.70% of the stock is currently owned by institutional investors.
Phillips Edison & Company, Inc. Stock Performance
NASDAQ:PECO traded up $0.03 during midday trading on Monday, reaching $37.23. 810,791 shares of the stock traded hands, compared to its average volume of 585,604. The stock has a market capitalization of $4.66 billion, a PE ratio of 74.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The business has a 50-day moving average of $36.61 and a two-hundred day moving average of $37.39.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.
Phillips Edison & Company, Inc. Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.1025 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.23 dividend on an annualized basis and a yield of 3.30%. Phillips Edison & Company, Inc.'s payout ratio is 246.00%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Mizuho dropped their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.
View Our Latest Research Report on Phillips Edison & Company, Inc.
About Phillips Edison & Company, Inc.
(
Free Report)
Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.
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