abrdn plc Increases Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

abrdn plc increased its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 14.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,605 shares of the company's stock after purchasing an additional 15,274 shares during the period. abrdn plc owned approximately 0.10% of Phillips Edison & Company, Inc. worth $4,555,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new position in Phillips Edison & Company, Inc. in the third quarter worth about $36,000. Blue Trust Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 15.5% during the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company's stock valued at $91,000 after purchasing an additional 325 shares during the period. GAMMA Investing LLC increased its position in shares of Phillips Edison & Company, Inc. by 31.8% during the 3rd quarter. GAMMA Investing LLC now owns 3,330 shares of the company's stock valued at $126,000 after purchasing an additional 803 shares during the last quarter. Finally, Tsfg LLC bought a new position in shares of Phillips Edison & Company, Inc. in the 3rd quarter worth approximately $127,000. Institutional investors own 80.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PECO shares. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a report on Wednesday, November 13th. Wells Fargo & Company cut their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Finally, 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 for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.50.

Phillips Edison & Company, Inc. Trading Up 0.6 %

Phillips Edison & Company, Inc. stock traded up $0.22 during mid-day trading on Thursday, hitting $37.24. The stock had a trading volume of 690,139 shares, compared to its average volume of 581,557. The firm has a market capitalization of $4.57 billion, a P/E ratio of 74.48, a P/E/G ratio of 1.76 and a beta of 0.58. The firm's 50 day moving average is $37.21 and its 200 day moving average is $37.25. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12.

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

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.30%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s payout ratio is currently 246.00%.

Phillips Edison & Company, Inc. 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.