Resona Asset Management Co. Ltd. Purchases New Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Resona Asset Management Co. Ltd. bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 48,989 shares of the company's stock, valued at approximately $1,845,000.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its stake 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 purchasing an additional 788 shares during the period. Blue Trust Inc. boosted its holdings 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 buying an additional 603 shares in the last quarter. Eukles Asset Management acquired a new stake in Phillips Edison & Company, Inc. during the fourth quarter valued at $156,000. KBC Group NV increased its holdings in Phillips Edison & Company, Inc. by 13.4% in the fourth quarter. KBC Group NV now owns 4,424 shares of the company's stock valued at $166,000 after buying an additional 522 shares in the last quarter. Finally, MCF Advisors LLC increased its holdings in Phillips Edison & Company, Inc. by 47.4% in the fourth quarter. MCF Advisors LLC now owns 5,200 shares of the company's stock valued at $195,000 after buying an additional 1,672 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Mizuho cut their price objective 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock traded up $0.20 during midday trading on Tuesday, reaching $35.60. The company had a trading volume of 127,047 shares, compared to its average volume of 695,948. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The firm's fifty day simple moving average is $35.78 and its 200-day simple moving average is $36.99. The company has a market capitalization of $4.46 billion, a P/E ratio of 71.13, a P/E/G ratio of 1.70 and a beta of 0.57.

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 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%. On average, analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, April 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 246.00%.

About Phillips Edison & Company, Inc.

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.