Proficio Capital Partners LLC bought a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,025 shares of the company's stock, valued at approximately $450,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in PECO. M&T Bank Corp increased its position in Phillips Edison & Company, Inc. by 2.9% during the 3rd quarter. M&T Bank Corp now owns 10,883 shares of the company's stock valued at $410,000 after purchasing an additional 307 shares during the period. State of Alaska Department of Revenue boosted its position in Phillips Edison & Company, Inc. by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock valued at $4,811,000 after acquiring an additional 344 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Phillips Edison & Company, Inc. by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company's stock worth $756,000 after acquiring an additional 510 shares during the period. KBC Group NV raised its position in shares of Phillips Edison & Company, Inc. by 13.4% in the 4th quarter. KBC Group NV now owns 4,424 shares of the company's stock worth $166,000 after acquiring an additional 522 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in Phillips Edison & Company, Inc. by 0.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 67,697 shares of the company's stock worth $2,536,000 after purchasing an additional 568 shares during the period. 80.70% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently weighed in on PECO shares. Mizuho lowered their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. Wells Fargo & Company decreased their target price 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, 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 research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.83.
Get Our Latest Stock Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Stock Performance
NASDAQ:PECO traded up $0.27 during trading on Friday, reaching $35.96. The company's stock had a trading volume of 733,580 shares, compared to its average volume of 669,133. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The firm 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. The firm has a 50 day moving average of $36.10 and a 200-day moving average of $37.27.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) 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%. Equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
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 given a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) 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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