ExodusPoint Capital Management LP Acquires 386,145 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

ExodusPoint Capital Management LP increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 341.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 499,336 shares of the company's stock after acquiring an additional 386,145 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.41% of Phillips Edison & Company, Inc. worth $18,705,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in shares of Phillips Edison & Company, Inc. by 609.1% in the third quarter. Bank of Montreal Can now owns 89,300 shares of the company's stock worth $3,327,000 after acquiring an additional 76,706 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Phillips Edison & Company, Inc. by 408.0% during the 3rd 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. PEAK6 Investments LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the third quarter worth $398,000. Verition Fund Management LLC boosted its stake in shares of Phillips Edison & Company, Inc. by 191.3% in the third quarter. Verition Fund Management LLC now owns 22,802 shares of the company's stock valued at $860,000 after purchasing an additional 14,975 shares during the period. Finally, Centiva Capital LP purchased a new position in shares of Phillips Edison & Company, Inc. in the third quarter valued at $318,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PECO shares. Mizuho cut their target price 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. Wells Fargo & Company decreased their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their target price 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. 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Price Performance

PECO traded up $1.39 on Wednesday, reaching $34.92. 2,271,157 shares of the company traded hands, compared to its average volume of 692,504. The stock's 50 day moving average price is $35.87 and its 200-day moving average price is $37.05. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 69.84, a PEG ratio of 1.70 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors 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 3.52%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 246.00%.

Phillips Edison & Company, Inc. 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.