State of New Jersey Common Pension Fund D Trims Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

State of New Jersey Common Pension Fund D decreased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,482 shares of the company’s stock after selling 1,293 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Phillips Edison & Company, Inc. were worth $2,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the third quarter worth approximately $36,000. Allworth Financial LP grew its stake in shares of Phillips Edison & Company, Inc. by 94.6% in the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after purchasing an additional 788 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 15.5% in the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock valued at $91,000 after purchasing an additional 325 shares during the last quarter. KBC Group NV grew its position in 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 buying an additional 700 shares during the last quarter. Finally, Eukles Asset Management purchased a new position in Phillips Edison & Company, Inc. in the 4th quarter valued at $156,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO opened at $35.25 on Monday. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12. The firm’s 50-day moving average is $36.83 and its two-hundred day moving average is $37.33. The company has a market capitalization of $4.41 billion, a PE ratio of 70.50, a price-to-earnings-growth ratio of 1.70 and a beta of 0.58.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.23 dividend on an annualized basis and a yield of 3.49%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 246.00%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PECO. Mizuho lifted their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research note on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company decreased their target price on shares of 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

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.