Citigroup Inc. Has $6.70 Million Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Citigroup Inc. grew its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 44.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,569 shares of the company's stock after buying an additional 54,800 shares during the quarter. Citigroup Inc. owned 0.14% of Phillips Edison & Company, Inc. worth $6,696,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Concorde Asset Management LLC purchased a new position in Phillips Edison & Company, Inc. during the third quarter worth approximately $205,000. Charles Schwab Investment Management Inc. boosted its position in shares of Phillips Edison & Company, Inc. by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company's stock valued at $78,977,000 after acquiring an additional 102,519 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Phillips Edison & Company, Inc. by 5.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company's stock valued at $41,810,000 after acquiring an additional 56,897 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $877,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Phillips Edison & Company, Inc. during the third quarter worth about $468,000. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO traded down $0.30 during trading hours on Friday, hitting $39.50. 488,006 shares of the company's stock traded hands, compared to its average volume of 671,714. The firm has a market cap of $4.84 billion, a P/E ratio of 85.87, a P/E/G ratio of 3.63 and a beta of 0.57. The stock's fifty day moving average price is $37.89 and its two-hundred day moving average price is $35.49. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.52). The business had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. On average, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 3.11%. Phillips Edison & Company, Inc.'s payout ratio is 267.39%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Compass Point upped their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 10th. Mizuho upped their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an "outperform" rating in a research note on Monday, August 19th. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $38.43.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.