Raymond James Financial Inc. Makes New $4.14 Million Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Raymond James Financial Inc. bought a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 110,553 shares of the company's stock, valued at approximately $4,141,000. Raymond James Financial Inc. owned about 0.09% of Phillips Edison & Company, Inc. as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its position in shares of Phillips Edison & Company, Inc. by 0.8% in the 4th quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock valued at $1,331,000 after purchasing an additional 290 shares during the period. M&T Bank Corp boosted its holdings in shares of Phillips Edison & Company, Inc. by 2.9% in the third quarter. M&T Bank Corp now owns 10,883 shares of the company's stock worth $410,000 after buying an additional 307 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Phillips Edison & Company, Inc. by 0.3% in the fourth quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock worth $4,811,000 after buying an additional 344 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Phillips Edison & Company, Inc. by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company's stock worth $756,000 after acquiring an additional 510 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Phillips Edison & Company, Inc. by 13.4% during the fourth quarter. KBC Group NV now owns 4,424 shares of the company's stock valued at $166,000 after acquiring an additional 522 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PECO shares. Wells Fargo & Company decreased their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Mizuho dropped their price target 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Stock Up 0.8 %

Shares of NASDAQ:PECO traded up $0.27 during trading on Friday, reaching $35.96. 733,580 shares of the company traded hands, compared to its average volume of 668,855. The firm has a fifty day simple moving average of $36.10 and a 200 day simple moving average of $37.26. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The firm has a market cap of $4.50 billion, a P/E ratio of 71.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.1025 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.42%. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 246.00%.

Phillips Edison & Company, Inc. Company Profile

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.