Adage Capital Partners GP L.L.C. lifted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 31.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 590,861 shares of the company's stock after purchasing an additional 140,861 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.48% of Phillips Edison & Company, Inc. worth $22,134,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Phillips Edison & Company, Inc. during the fourth quarter worth approximately $488,000. Barclays PLC grew its holdings in shares of Phillips Edison & Company, Inc. by 49.2% during the 3rd quarter. Barclays PLC now owns 279,432 shares of the company's stock worth $10,538,000 after purchasing an additional 92,129 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $80,371,000 after purchasing an additional 51,186 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Phillips Edison & Company, Inc. by 24.8% in the fourth quarter. Natixis Advisors LLC now owns 54,647 shares of the company's stock worth $2,047,000 after purchasing an additional 10,865 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Phillips Edison & Company, Inc. by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 595,165 shares of the company's stock valued at $22,295,000 after purchasing an additional 17,235 shares in the last quarter. 80.70% of the stock is owned by institutional investors.
Phillips Edison & Company, Inc. Price Performance
PECO stock opened at $35.08 on Friday. The company has a 50 day simple moving average of $35.57 and a 200 day simple moving average of $36.92. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 70.16, a P/E/G ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates 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%. On average, equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.
Phillips Edison & Company, Inc. Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on PECO. Mizuho reduced their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased 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. Finally, Wells Fargo & Company lowered 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 report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.83.
Check Out Our Latest Stock Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Profile
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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.
See Also
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