Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,380 shares of the company's stock after acquiring an additional 8,820 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.13% of Phillips Edison & Company, Inc. worth $6,083,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PECO. Norges Bank purchased a new position in Phillips Edison & Company, Inc. in the 4th quarter valued at $55,977,000. Caisse Des Depots ET Consignations acquired a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at about $761,000. JPMorgan Chase & Co. raised its position in shares of Phillips Edison & Company, Inc. by 53.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock valued at $65,084,000 after buying an additional 606,055 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Phillips Edison & Company, Inc. by 3.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 80,675 shares of the company's stock worth $3,025,000 after buying an additional 2,423 shares in the last quarter. Finally, Modern Wealth Management LLC boosted its position in Phillips Edison & Company, Inc. by 54.1% during the fourth quarter. Modern Wealth Management LLC now owns 117,452 shares of the company's stock worth $4,325,000 after acquiring an additional 41,229 shares during the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PECO. JPMorgan Chase & Co. dropped their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Mizuho dropped their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Finally, Wells Fargo & Company cut their price target on 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $38.83.

Phillips Edison & Company, Inc. Stock Down 2.8 %

NASDAQ:PECO traded down $1.00 on Friday, hitting $35.07. The stock had a trading volume of 450,484 shares, compared to its average volume of 672,165. The company has a fifty day moving average price of $36.15 and a two-hundred day moving average price of $37.22. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 70.12, a PEG ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released 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%. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) 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.