State Street Corp Has $267.29 Million Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

State Street Corp boosted its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,068,684 shares of the company's stock after purchasing an additional 18,429 shares during the quarter. State Street Corp owned about 5.77% of Phillips Edison & Company, Inc. worth $267,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. bought a new position in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Phillips Edison & Company, Inc. in the 3rd quarter worth $28,000. Hobbs Group Advisors LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth about $39,000. Blue Trust Inc. raised its position in shares of Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company's stock valued at $75,000 after buying an additional 1,290 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. in the second quarter valued at about $107,000. Institutional investors and hedge funds own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Down 0.1 %

PECO traded down $0.02 during trading on Wednesday, hitting $39.00. The company's stock had a trading volume of 781,723 shares, compared to its average volume of 672,431. The firm's 50 day moving average price is $38.08 and its two-hundred day moving average price is $35.86. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 84.83, a price-to-earnings-growth ratio of 3.61 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.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The company had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. Phillips Edison & Company, Inc.'s revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 3.15%. Phillips Edison & Company, Inc.'s payout ratio is 267.39%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PECO shares. Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a "neutral" rating in a report on Tuesday, September 10th. Mizuho raised their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an "outperform" rating in a report on Tuesday. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $39.14.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.