Point72 Asset Management L.P. acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,600 shares of the company's stock, valued at approximately $588,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Duff & Phelps Investment Management Co. bought a new position in shares of Phillips Edison & Company, Inc. in the second quarter worth about $32,120,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Phillips Edison & Company, Inc. by 408.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company's stock worth $28,879,000 after acquiring an additional 615,076 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the second quarter worth approximately $8,397,000. Dimensional Fund Advisors LP raised its stake in shares of Phillips Edison & Company, Inc. by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company's stock valued at $40,911,000 after acquiring an additional 179,775 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 578.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company's stock valued at $5,247,000 after purchasing an additional 118,640 shares during the period. Hedge funds and other institutional investors own 80.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on PECO shares. Compass Point lifted their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 target price on the stock in a report on Wednesday, November 13th. Finally, Mizuho boosted their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an "outperform" rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $39.14.
Check Out Our Latest Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Stock Performance
PECO traded up $0.20 on Thursday, hitting $39.20. The company had a trading volume of 553,884 shares, compared to its average volume of 672,127. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 85.22, a P/E/G ratio of 3.61 and a beta of 0.57. The stock has a fifty day moving average price of $38.18 and a 200-day moving average price of $35.91. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The company's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 EPS. Analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.
Phillips Edison & Company, Inc. Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. Phillips Edison & Company, Inc.'s payout ratio is 267.39%.
Phillips Edison & Company, Inc. Profile
(
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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