Cibc World Markets Corp Acquires New Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cibc World Markets Corp 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 SEC. The institutional investor acquired 11,491 shares of the company's stock, valued at approximately $430,000.

A number of other hedge funds have also modified their holdings of PECO. Legacy Investment Solutions LLC bought a new stake in Phillips Edison & Company, Inc. in the third quarter valued at $36,000. Allworth Financial LP boosted its stake in shares of Phillips Edison & Company, Inc. by 94.6% in the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company's stock valued at $58,000 after purchasing an additional 788 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 24.9% in the 4th quarter. Blue Trust Inc. now owns 3,023 shares of the company's stock worth $113,000 after purchasing an additional 603 shares during the last quarter. Eukles Asset Management acquired a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter worth about $156,000. Finally, KBC Group NV lifted its holdings in Phillips Edison & Company, Inc. by 13.4% during the 4th quarter. KBC Group NV now owns 4,424 shares of the company's stock valued at $166,000 after purchasing an additional 522 shares during the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ PECO traded down $0.29 during trading on Thursday, reaching $35.69. The company had a trading volume of 609,175 shares, compared to its average volume of 611,855. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The business's 50 day moving average price is $36.10 and its 200-day moving average price is $37.29. The stock has a market cap of $4.47 billion, a PE ratio of 71.38, a PEG ratio of 1.70 and a beta of 0.57.

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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 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%. Equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.45%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is 246.00%.

Analyst Upgrades and Downgrades

PECO has been the topic of several research analyst reports. 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. Mizuho decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company dropped their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

About Phillips Edison & Company, Inc.

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.