Van ECK Associates Corp Has $871,000 Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Van ECK Associates Corp increased its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,257 shares of the company’s stock after acquiring an additional 2,155 shares during the period. Van ECK Associates Corp’s holdings in Phillips Edison & Company, Inc. were worth $871,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PECO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Phillips Edison & Company, Inc. by 408.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company’s stock valued at $28,879,000 after purchasing an additional 615,076 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in Phillips Edison & Company, Inc. by 50.1% in the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock valued at $55,589,000 after purchasing an additional 492,160 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Phillips Edison & Company, Inc. by 578.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company’s stock valued at $5,247,000 after purchasing an additional 118,640 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Phillips Edison & Company, Inc. by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock valued at $78,977,000 after purchasing an additional 102,519 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Phillips Edison & Company, Inc. by 3,092.8% in the third quarter. International Assets Investment Management LLC now owns 104,117 shares of the company’s stock valued at $3,926,000 after purchasing an additional 100,856 shares in the last quarter. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ PECO opened at $35.25 on Friday. The firm has a 50-day moving average of $36.83 and a 200-day moving average of $37.29. The stock has a market cap of $4.41 billion, a PE ratio of 70.50, a P/E/G ratio of 1.72 and a beta of 0.58. 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 posted its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.49%. The ex-dividend date is Monday, March 17th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 246.00%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PECO shares. Wells Fargo & Company decreased their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Wolfe Research raised shares of 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 report on Wednesday, November 13th. Finally, Mizuho lifted their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Moderate Buy” and a consensus target price 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.