Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 42.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,034 shares of the company's stock after acquiring an additional 23,426 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Phillips Edison & Company, Inc. worth $2,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in Phillips Edison & Company, Inc. during the third quarter worth about $921,000. KBC Group NV lifted its stake in shares of Phillips Edison & Company, Inc. by 21.9% in the 3rd quarter. KBC Group NV now owns 3,902 shares of the company's stock valued at $147,000 after purchasing an additional 700 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 29.8% during the 3rd quarter. Metis Global Partners LLC now owns 12,613 shares of the company's stock worth $476,000 after purchasing an additional 2,893 shares during the period. Natixis Advisors LLC increased its position in shares of Phillips Edison & Company, Inc. by 132.6% during the 3rd quarter. Natixis Advisors LLC now owns 43,782 shares of the company's stock worth $1,651,000 after purchasing an additional 24,963 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. in the 3rd quarter valued at about $546,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

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Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO traded down $0.01 during midday trading on Wednesday, hitting $35.14. The company's stock had a trading volume of 307,225 shares, compared to its average volume of 590,846. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 70.29, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The business's fifty day simple moving average is $36.16 and its two-hundred day simple moving average is $37.35. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. Analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business 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 of this dividend is Tuesday, April 15th. This represents a $1.23 annualized dividend and a yield of 3.50%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 246.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PECO. Mizuho dropped their price target on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Wells Fargo & Company cut their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Company Profile

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.