FORA Capital LLC purchased a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,529 shares of the company's stock, valued at approximately $548,000.
Other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new position in Phillips Edison & Company, Inc. in the 2nd quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $28,000. Hobbs Group Advisors LLC bought a new stake in Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $39,000. PFG Private Wealth Management LLC acquired a new position in Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $62,000. Finally, Blue Trust Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company's stock worth $75,000 after acquiring an additional 1,290 shares in the last quarter. Institutional investors own 80.70% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on PECO shares. Compass Point boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 10th. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Mizuho raised their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four research 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 stock has an average rating of "Hold" and a consensus target price of $38.43.
Get Our Latest Stock Report on PECO
Phillips Edison & Company, Inc. Stock Down 0.8 %
Shares of PECO stock traded down $0.30 during trading on Friday, reaching $39.50. 488,006 shares of the company's stock were exchanged, compared to its average volume of 667,787. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The firm's fifty day moving average price is $37.87 and its 200-day moving average price is $35.42. The stock has a market capitalization of $4.84 billion, a PE ratio of 85.87, a PEG ratio of 3.65 and a beta of 0.57.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). The company had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. Phillips Edison & Company, Inc.'s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 earnings per share. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.
Phillips Edison & Company, Inc. Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 267.39%.
About Phillips Edison & Company, Inc.
(
Free Report)
Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.
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