Allspring Global Investments Holdings LLC bought a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,019 shares of the company's stock, valued at approximately $488,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in Phillips Edison & Company, Inc. in the third quarter worth $36,000. Blue Trust Inc. grew its position in Phillips Edison & Company, Inc. by 15.5% during the third quarter. Blue Trust Inc. now owns 2,420 shares of the company's stock valued at $91,000 after buying an additional 325 shares during the period. KBC Group NV raised its position in Phillips Edison & Company, Inc. by 21.9% in the third quarter. KBC Group NV now owns 3,902 shares of the company's stock worth $147,000 after acquiring an additional 700 shares during the period. Eukles Asset Management purchased a new position in Phillips Edison & Company, Inc. in the fourth quarter valued at about $156,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Phillips Edison & Company, Inc. by 34.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,751 shares of the company's stock valued at $177,000 after acquiring an additional 1,230 shares during the period. 80.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PECO has been the topic of a number of research reports. Mizuho lowered their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a report on Wednesday, November 13th. Wells Fargo & Company cut their target price 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. Finally, JPMorgan Chase & Co. lowered their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $39.00.
View Our Latest Report on PECO
Phillips Edison & Company, Inc. Trading Up 2.5 %
Shares of Phillips Edison & Company, Inc. stock traded up $0.89 on Friday, reaching $37.20. The stock had a trading volume of 1,047,134 shares, compared to its average volume of 579,744. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The company has a market cap of $4.66 billion, a P/E ratio of 74.40, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58. The business's 50 day moving average is $36.63 and its two-hundred day moving average is $37.33.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. On average, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Monday, March 17th. Phillips Edison & Company, Inc.'s payout ratio is currently 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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