Bank of Montreal Can Has $4.17 Million Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Bank of Montreal Can grew its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 24.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,333 shares of the company's stock after acquiring an additional 22,033 shares during the period. Bank of Montreal Can owned 0.09% of Phillips Edison & Company, Inc. worth $4,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth $55,977,000. JPMorgan Chase & Co. grew its holdings in Phillips Edison & Company, Inc. by 53.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock worth $65,084,000 after acquiring an additional 606,055 shares during the last quarter. ExodusPoint Capital Management LP increased its position in Phillips Edison & Company, Inc. by 341.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 499,336 shares of the company's stock valued at $18,705,000 after acquiring an additional 386,145 shares in the last quarter. FMR LLC raised its stake in shares of Phillips Edison & Company, Inc. by 14.6% in the fourth quarter. FMR LLC now owns 3,026,358 shares of the company's stock worth $113,367,000 after acquiring an additional 385,983 shares during the last quarter. Finally, Aew Capital Management L P lifted its position in shares of Phillips Edison & Company, Inc. by 47.0% during the fourth quarter. Aew Capital Management L P now owns 627,889 shares of the company's stock worth $23,521,000 after purchasing an additional 200,819 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PECO has been the subject 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 for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company cut their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Stock Down 2.5 %

PECO stock traded down $0.89 during midday trading on Monday, reaching $35.29. The company's stock had a trading volume of 666,409 shares, compared to its average volume of 700,614. The business's 50-day simple moving average is $35.66 and its 200-day simple moving average is $36.94. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The stock has a market cap of $4.42 billion, a PE ratio of 70.58, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced 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 is Tuesday, April 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.49%. Phillips Edison & Company, Inc.'s payout ratio is currently 246.00%.

Phillips Edison & Company, Inc. Company 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.