Principal Financial Group Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 595,165 shares of the company's stock after purchasing an additional 17,235 shares during the quarter. Principal Financial Group Inc. owned about 0.49% of Phillips Edison & Company, Inc. worth $22,295,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in PECO. Barclays PLC grew its stake in shares of Phillips Edison & Company, Inc. by 49.2% during the third quarter. Barclays PLC now owns 279,432 shares of the company's stock worth $10,538,000 after purchasing an additional 92,129 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Phillips Edison & Company, Inc. by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company's stock worth $78,977,000 after purchasing an additional 102,519 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Phillips Edison & Company, Inc. by 50.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company's stock valued at $55,589,000 after acquiring an additional 492,160 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Phillips Edison & Company, Inc. in the fourth quarter valued at about $488,000. Finally, abrdn plc raised its position in Phillips Edison & Company, Inc. by 14.4% during the fourth quarter. abrdn plc now owns 121,605 shares of the company's stock worth $4,555,000 after acquiring an additional 15,274 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
PECO has been the topic of several research reports. Wolfe Research raised Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 target price on the stock in a research report on Wednesday, November 13th. Mizuho lowered their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reduced their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of "Moderate Buy" and a consensus price target of $39.00.
Get Our Latest Analysis on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Trading Up 0.8 %
PECO stock traded up $0.30 during trading hours on Thursday, hitting $36.31. 517,340 shares of the stock were exchanged, compared to its average volume of 567,546. The firm has a market capitalization of $4.55 billion, a P/E ratio of 72.62, a P/E/G ratio of 1.70 and a beta of 0.58. The company has a 50-day simple moving average of $36.65 and a two-hundred day simple moving average of $37.34. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates 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 predict 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 disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.1025 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.23 dividend on an annualized basis and a yield of 3.39%. Phillips Edison & Company, Inc.'s dividend payout ratio is 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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