Modern Wealth Management LLC raised its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 54.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 117,452 shares of the company's stock after purchasing an additional 41,229 shares during the period. Modern Wealth Management LLC owned 0.10% of Phillips Edison & Company, Inc. worth $4,325,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arizona State Retirement System increased its holdings in shares of Phillips Edison & Company, Inc. by 0.8% in the fourth quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock valued at $1,331,000 after purchasing an additional 290 shares during the last quarter. M&T Bank Corp grew its holdings in Phillips Edison & Company, Inc. by 2.9% in the 3rd quarter. M&T Bank Corp now owns 10,883 shares of the company's stock valued at $410,000 after buying an additional 307 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Phillips Edison & Company, Inc. by 0.3% during the 4th quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock valued at $4,811,000 after buying an additional 344 shares during the period. Exchange Traded Concepts LLC lifted its position in Phillips Edison & Company, Inc. by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company's stock valued at $756,000 after buying an additional 510 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Phillips Edison & Company, Inc. by 13.4% during the 4th quarter. KBC Group NV now owns 4,424 shares of the company's stock valued at $166,000 after acquiring an additional 522 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target 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. Wells Fargo & Company decreased their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Mizuho dropped their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.83.
Get Our Latest Research Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Stock Performance
Phillips Edison & Company, Inc. stock traded up $0.27 during midday trading on Friday, hitting $35.96. 733,580 shares of the company's stock were exchanged, compared to its average volume of 668,855. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 71.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The firm's 50 day simple moving average is $36.10 and its 200 day simple moving average is $37.26.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share 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%. On average, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.
Phillips Edison & Company, Inc. Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.'s payout ratio is currently 246.00%.
About Phillips Edison & Company, Inc.
(
Free Report)
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.
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