Raymond James Financial Inc. bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 110,553 shares of the company's stock, valued at approximately $4,141,000. Raymond James Financial Inc. owned about 0.09% of Phillips Edison & Company, Inc. at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP raised its holdings in shares of Phillips Edison & Company, Inc. by 94.6% during the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company's stock worth $58,000 after buying an additional 788 shares in the last quarter. FIL Ltd grew its position in Phillips Edison & Company, Inc. by 17.8% in the fourth quarter. FIL Ltd now owns 2,155 shares of the company's stock valued at $81,000 after acquiring an additional 325 shares during the last quarter. Blue Trust Inc. raised its stake in Phillips Edison & Company, Inc. by 24.9% during the fourth quarter. Blue Trust Inc. now owns 3,023 shares of the company's stock worth $113,000 after acquiring an additional 603 shares in the last quarter. Eukles Asset Management bought a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter worth about $156,000. Finally, KBC Group NV boosted its stake 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 valued at $166,000 after purchasing an additional 522 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.
Phillips Edison & Company, Inc. Stock Performance
Shares of NASDAQ:PECO opened at $35.08 on Friday. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The firm has a market cap of $4.39 billion, a PE ratio of 70.16, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The firm's fifty day moving average is $35.57 and its 200-day moving average is $36.92.
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 analysts' consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.
Phillips Edison & Company, Inc. Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.1025 per share. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 annualized dividend and a yield of 3.51%. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on PECO shares. Wells Fargo & Company lowered their price objective 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, March 26th. JPMorgan Chase & Co. dropped their price target on 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. Finally, Mizuho reduced their price objective 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, 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, Phillips Edison & Company, Inc. presently has an average rating of "Moderate Buy" and an average price target of $38.83.
Check Out Our Latest Stock Analysis on PECO
Phillips Edison & Company, Inc. Profile
(
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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