Phillips Edison & Company, Inc. (NASDAQ:PECO) Holdings Lifted by Rhumbline Advisers

Rhumbline Advisers lifted its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 391,550 shares of the company’s stock after acquiring an additional 2,881 shares during the period. Rhumbline Advisers owned 0.32% of Phillips Edison & Company, Inc. worth $14,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of Phillips Edison & Company, Inc. by 49.2% in the 3rd quarter. Barclays PLC now owns 279,432 shares of the company’s stock worth $10,538,000 after acquiring an additional 92,129 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after acquiring an additional 102,519 shares during the period. Duff & Phelps Investment Management Co. lifted its stake in shares of Phillips Edison & Company, Inc. by 50.1% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock worth $55,589,000 after acquiring an additional 492,160 shares during the period. abrdn plc lifted its stake in shares of Phillips Edison & Company, Inc. by 14.4% in the 4th quarter. abrdn plc now owns 121,605 shares of the company’s stock worth $4,555,000 after acquiring an additional 15,274 shares during the period. Finally, Natixis Advisors LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 132.6% in the 3rd quarter. Natixis Advisors LLC now owns 43,782 shares of the company’s stock worth $1,651,000 after acquiring an additional 24,963 shares during the period. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $35.25 on Friday. The firm has a market cap of $4.41 billion, a PE ratio of 70.50, a P/E/G ratio of 1.70 and a beta of 0.58. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The firm has a 50 day simple moving average of $36.83 and a 200 day simple moving average of $37.31.

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

Phillips Edison & Company, Inc. Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PECO. Mizuho upped their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Wells Fargo & Company cut their target price 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 note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of 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. Finally, Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.