Verition Fund Management LLC raised its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 191.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,802 shares of the company's stock after acquiring an additional 14,975 shares during the quarter. Verition Fund Management LLC's holdings in Phillips Edison & Company, Inc. were worth $860,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in 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 bought a new position in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in shares of Phillips Edison & Company, Inc. in the second quarter valued at about $39,000. Blue Trust Inc. lifted its position in 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 buying an additional 1,290 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Phillips Edison & Company, Inc. during the 2nd quarter worth about $107,000. Institutional investors and hedge funds own 80.70% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on PECO. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Compass Point increased their price objective on 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. Finally, Mizuho boosted their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an "outperform" rating in a research report on Tuesday. Four equities 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.com, the stock has an average rating of "Hold" and a consensus target price of $39.14.
Read Our Latest Report on PECO
Phillips Edison & Company, Inc. Price Performance
Shares of Phillips Edison & Company, Inc. stock traded down $0.18 on Tuesday, hitting $39.02. 753,189 shares of the company's stock traded hands, compared to its average volume of 671,972. 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 PE 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 one year low of $30.62 and a one year high of $40.12.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The company had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the prior year, the company posted $0.58 EPS. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts forecast that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
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 paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.'s payout ratio is 267.39%.
Phillips Edison & Company, Inc. Company Profile
(
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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