KLP Kapitalforvaltning AS acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 25,900 shares of the company's stock, valued at approximately $972,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PECO. State Street Corp raised its holdings in shares of Phillips Edison & Company, Inc. by 0.3% during the third quarter. State Street Corp now owns 7,068,684 shares of the company's stock valued at $267,289,000 after buying an additional 18,429 shares during the last quarter. Geode Capital Management LLC raised its stake in Phillips Edison & Company, Inc. by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company's stock valued at $120,347,000 after acquiring an additional 19,205 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Phillips Edison & Company, Inc. by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock valued at $80,371,000 after acquiring an additional 51,186 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its position in Phillips Edison & Company, Inc. by 50.1% during the 3rd 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, Bank of New York Mellon Corp grew its stake in shares of Phillips Edison & Company, Inc. by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 969,592 shares of the company's stock worth $36,321,000 after purchasing an additional 5,033 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on PECO. JPMorgan Chase & Co. cut their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company dropped their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, Mizuho decreased their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th. Three 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, Phillips Edison & Company, Inc. currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.
View Our Latest Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Stock Performance
NASDAQ PECO traded down $1.08 on Friday, reaching $34.98. The company's stock had a trading volume of 1,038,505 shares, compared to its average volume of 675,370. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The firm's 50 day moving average is $36.12 and its two-hundred day moving average is $37.20. The stock has a market cap of $4.38 billion, a PE ratio of 69.96, a PEG ratio of 1.70 and a beta of 0.57.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. Equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.52%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 246.00%.
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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