Employees Retirement System of Texas Invests $3.27 Million in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Employees Retirement System of Texas bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the company's stock, valued at approximately $3,271,000. Employees Retirement System of Texas owned about 0.08% of Phillips Edison & Company, Inc. at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GRS Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter worth $26,042,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Phillips Edison & Company, Inc. during the 1st quarter worth approximately $607,000. Harbor Capital Advisors Inc. lifted its position in Phillips Edison & Company, Inc. by 67.1% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company's stock valued at $2,541,000 after purchasing an additional 31,189 shares during the last quarter. Cetera Investment Advisers grew its holdings in Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company's stock worth $41,971,000 after buying an additional 826,891 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Phillips Edison & Company, Inc. by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company's stock valued at $684,350,000 after purchasing an additional 266,832 shares during the period. Hedge funds and other institutional investors own 80.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Mizuho boosted their price objective 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. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Compass Point raised 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Stock Down 0.3 %

PECO traded down $0.11 during trading hours on Friday, hitting $37.26. 903,504 shares of the company's stock were exchanged, compared to its average volume of 675,508. The stock's 50-day moving average is $36.23 and its two-hundred day moving average is $34.23. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 81.00, a PEG 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 $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). The firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. On average, equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Phillips Edison & Company, Inc.'s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. Phillips Edison & Company, Inc.'s 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.