FMR LLC reduced its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,640,375 shares of the company's stock after selling 184,119 shares during the quarter. FMR LLC owned about 2.15% of Phillips Edison & Company, Inc. worth $99,569,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new position in shares of Phillips Edison & Company, Inc. in the second quarter worth $26,000. V Square Quantitative Management LLC acquired a new stake in Phillips Edison & Company, Inc. during the 3rd quarter valued at approximately $28,000. Hobbs Group Advisors LLC bought a new stake in Phillips Edison & Company, Inc. during the second quarter valued at $39,000. PFG Private Wealth Management LLC bought a new stake in Phillips Edison & Company, Inc. in the second quarter worth approximately $62,000. Finally, Blue Trust Inc. boosted its stake in Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company's stock worth $75,000 after acquiring an additional 1,290 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PECO. Compass Point lifted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Tuesday, September 10th. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. Four equities 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 company has a consensus rating of "Hold" and a consensus target price of $38.43.
Check Out Our Latest Stock Report on PECO
Phillips Edison & Company, Inc. Price Performance
Shares of NASDAQ:PECO traded up $0.15 during trading on Thursday, hitting $39.33. The company's stock had a trading volume of 1,100,581 shares, compared to its average volume of 670,504. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 85.17, a P/E/G ratio of 3.59 and a beta of 0.57. The company has a 50-day moving average of $37.94 and a 200-day moving average of $35.62.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The company had revenue of $165.50 million during the quarter, compared to analysts' expectations of $157.20 million. During the same quarter last year, the company earned $0.58 earnings per share. The company's revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.
Phillips Edison & Company, Inc. Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.13%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 267.39%.
Phillips Edison & Company, Inc. Profile
(
Free Report)
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.
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