UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 408.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 765,822 shares of the company's stock after purchasing an additional 615,076 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.62% of Phillips Edison & Company, Inc. worth $28,879,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. 1620 Investment Advisors Inc. acquired a new stake in Phillips Edison & Company, Inc. during the 2nd quarter valued at $26,000. V Square Quantitative Management LLC purchased a new stake in Phillips Edison & Company, Inc. during the 3rd quarter worth about $28,000. Hobbs Group Advisors LLC acquired a new position in Phillips Edison & Company, Inc. in the 2nd quarter valued at about $39,000. PFG Private Wealth Management LLC purchased a new position in Phillips Edison & Company, Inc. in the 2nd quarter valued at about $62,000. Finally, Blue Trust Inc. boosted its stake in shares of Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company's stock worth $75,000 after purchasing an additional 1,290 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.
Phillips Edison & Company, Inc. Stock Performance
Phillips Edison & Company, Inc. stock traded up $0.15 during midday trading on Thursday, reaching $39.33. The stock had a trading volume of 1,100,581 shares, compared to its average volume of 670,504. The stock's 50-day simple moving average is $37.94 and its 200 day simple moving average is $35.62. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The stock has a market capitalization of $4.82 billion, a PE ratio of 85.50, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business's revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. Equities analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.'s payout ratio is currently 267.39%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the stock. Compass Point boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a "neutral" rating in a research report on Tuesday, September 10th. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Wolfe Research raised Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a research report on Wednesday, November 13th. Finally, Mizuho increased their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Four research 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, the company presently has an average rating of "Hold" and a consensus target price of $38.43.
Get Our Latest Research Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Company Profile
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Free Report)
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.
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