Duff & Phelps Investment Management Co. trimmed its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,456,975 shares of the company's stock after selling 17,155 shares during the quarter. Duff & Phelps Investment Management Co. owned about 1.19% of Phillips Edison & Company, Inc. worth $54,578,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter worth $55,977,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Phillips Edison & Company, Inc. by 408.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company's stock worth $28,879,000 after acquiring an additional 615,076 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Phillips Edison & Company, Inc. by 53.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock valued at $65,084,000 after acquiring an additional 606,055 shares during the last quarter. Aew Capital Management L P lifted its holdings in Phillips Edison & Company, Inc. by 47.0% in the 4th quarter. Aew Capital Management L P now owns 627,889 shares of the company's stock valued at $23,521,000 after acquiring an additional 200,819 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Phillips Edison & Company, Inc. by 578.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company's stock valued at $5,247,000 after purchasing an additional 118,640 shares in the last quarter. Institutional investors own 80.70% of the company's stock.
Phillips Edison & Company, Inc. Stock Performance
Shares of PECO stock traded up $0.31 on Tuesday, reaching $36.80. 212,833 shares of the company's stock traded hands, compared to its average volume of 667,655. The company has a market capitalization of $4.61 billion, a P/E ratio of 73.82, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The business's 50 day moving average price is $36.11 and its two-hundred day moving average price is $37.25.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating 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%. Research analysts predict 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 disclosed 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. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.34%. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 246.00%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on PECO. JPMorgan Chase & Co. reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Mizuho decreased their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Three equities 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.83.
Get Our Latest Report on PECO
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.
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