Allspring Global Investments Holdings LLC Makes New Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Allspring Global Investments Holdings LLC bought a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,019 shares of the company’s stock, valued at approximately $488,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in Phillips Edison & Company, Inc. in the fourth quarter worth approximately $402,000. Eukles Asset Management purchased a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter valued at approximately $156,000. Entropy Technologies LP boosted its stake in shares of Phillips Edison & Company, Inc. by 58.7% during the fourth quarter. Entropy Technologies LP now owns 29,954 shares of the company’s stock valued at $1,122,000 after purchasing an additional 11,083 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Phillips Edison & Company, Inc. by 14.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,954 shares of the company’s stock valued at $972,000 after purchasing an additional 3,354 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Phillips Edison & Company, Inc. by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company’s stock valued at $4,811,000 after purchasing an additional 344 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Up 0.7 %

Shares of Phillips Edison & Company, Inc. stock opened at $35.48 on Tuesday. The company has a market cap of $4.44 billion, a PE ratio of 70.96, a P/E/G ratio of 1.70 and a beta of 0.58. The business has a 50 day moving average of $36.75 and a 200 day moving average of $37.34. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.1025 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.23 dividend on an annualized basis and a yield of 3.47%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 246.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. 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 note on Wednesday, November 13th. Mizuho increased their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, Wells Fargo & Company dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. presently has a consensus rating of “Moderate Buy” and an average price target of $39.50.

About Phillips Edison & Company, Inc.

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.