Intech Investment Management LLC Invests $877,000 in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Intech Investment Management LLC purchased a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,266 shares of the company's stock, valued at approximately $877,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in Phillips Edison & Company, Inc. in the 3rd quarter worth about $468,000. Cassady Schiller Wealth Management LLC bought a new position in shares of Phillips Edison & Company, Inc. in the third quarter worth approximately $546,000. Natixis Advisors LLC raised its stake in Phillips Edison & Company, Inc. by 132.6% in the third quarter. Natixis Advisors LLC now owns 43,782 shares of the company's stock valued at $1,651,000 after purchasing an additional 24,963 shares in the last quarter. Metis Global Partners LLC lifted its position in Phillips Edison & Company, Inc. by 29.8% during the third quarter. Metis Global Partners LLC now owns 12,613 shares of the company's stock valued at $476,000 after purchasing an additional 2,893 shares during the last quarter. Finally, KBC Group NV grew its stake in Phillips Edison & Company, Inc. by 21.9% in the 3rd quarter. KBC Group NV now owns 3,902 shares of the company's stock worth $147,000 after buying an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Analyst Ratings Changes

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

Phillips Edison & Company, Inc. Trading Down 0.8 %

NASDAQ:PECO traded down $0.30 during trading hours on Friday, reaching $39.50. 488,006 shares of the company traded hands, compared to its average volume of 667,787. The business's 50-day moving average price is $37.87 and its two-hundred day moving average price is $35.42. The stock has a market capitalization of $4.84 billion, a P/E ratio of 85.87, a P/E/G ratio of 3.65 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. As a group, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders 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 dividend yield of 3.11%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 267.39%.

Phillips Edison & Company, Inc. Company 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.