Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board lifted its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 7.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 269,338 shares of the company’s stock after purchasing an additional 19,223 shares during the period. Public Sector Pension Investment Board owned about 0.22% of Phillips Edison & Company, Inc. worth $8,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund increased its position in Phillips Edison & Company, Inc. by 0.6% during the first quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company’s stock worth $2,423,000 after buying an additional 372 shares during the period. Maryland State Retirement & Pension System raised its position in Phillips Edison & Company, Inc. by 1.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 43,970 shares of the company’s stock valued at $1,577,000 after purchasing an additional 502 shares during the last quarter. Accel Wealth Management boosted its stake in Phillips Edison & Company, Inc. by 2.3% during the 1st quarter. Accel Wealth Management now owns 31,142 shares of the company’s stock worth $1,117,000 after purchasing an additional 686 shares during the period. American International Group Inc. grew its position in Phillips Edison & Company, Inc. by 1.1% during the 1st quarter. American International Group Inc. now owns 65,003 shares of the company’s stock worth $2,332,000 after purchasing an additional 699 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Phillips Edison & Company, Inc. by 4.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 18,081 shares of the company’s stock valued at $608,000 after purchasing an additional 699 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

PECO has been the subject of several analyst reports. Compass Point upped their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho boosted their target price on 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Hold” and an average price target of $37.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO opened at $38.44 on Tuesday. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08. The stock has a fifty day moving average of $36.06 and a two-hundred day moving average of $34.17. The company has a market capitalization of $4.71 billion, a PE ratio of 83.57, a price-to-earnings-growth ratio of 3.69 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. During the same period in the prior year, the company earned $0.59 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a $0.1025 dividend. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Tuesday, October 15th. Phillips Edison & Company, Inc.’s payout ratio is currently 267.40%.

Phillips Edison & Company, Inc. Company 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.