State of New Jersey Common Pension Fund D Has $1.97 Million Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

State of New Jersey Common Pension Fund D lowered its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 25.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,131 shares of the company’s stock after selling 20,825 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Phillips Edison & Company, Inc. were worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Phillips Edison & Company, Inc. in the fourth quarter worth about $48,562,000. Cetera Investment Advisers boosted its stake in Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after purchasing an additional 826,891 shares during the period. GRS Advisors LLC acquired a new position in Phillips Edison & Company, Inc. in the 4th quarter worth approximately $26,042,000. Vanguard Group Inc. grew its position in Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after purchasing an additional 577,445 shares in the last quarter. Finally, Cetera Advisors LLC raised its stake in Phillips Edison & Company, Inc. by 60.4% during the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock valued at $28,378,000 after purchasing an additional 297,945 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO opened at $38.37 on Friday. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.08. The business’s 50-day moving average price is $35.96 and its two-hundred day moving average price is $34.17. The company has a market capitalization of $4.70 billion, a P/E ratio of 83.41, a price-to-earnings-growth ratio of 3.69 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.1025 per share. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.21%. Phillips Edison & Company, Inc.’s dividend payout ratio is 267.40%.

Analysts Set New Price Targets

Several brokerages have recently commented on PECO. Compass Point raised their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Finally, Mizuho increased their price target on shares of 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Hold” and a consensus price target of $37.50.

Phillips Edison & Company, Inc. Profile

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.