Dark Forest Capital Management LP Invests $849,000 in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Dark Forest Capital Management LP bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 22,666 shares of the company's stock, valued at approximately $849,000.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter worth $488,000. Barclays PLC grew its holdings in shares of Phillips Edison & Company, Inc. by 49.2% during the third quarter. Barclays PLC now owns 279,432 shares of the company's stock worth $10,538,000 after purchasing an additional 92,129 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock valued at $80,371,000 after buying an additional 51,186 shares during the period. Natixis Advisors LLC raised its holdings in Phillips Edison & Company, Inc. by 24.8% in the 4th quarter. Natixis Advisors LLC now owns 54,647 shares of the company's stock valued at $2,047,000 after buying an additional 10,865 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Phillips Edison & Company, Inc. by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 595,165 shares of the company's stock worth $22,295,000 after buying an additional 17,235 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock traded down $0.10 during trading hours on Tuesday, hitting $34.91. 143,910 shares of the company were exchanged, compared to its average volume of 704,563. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12. The company has a 50 day simple moving average of $35.55 and a two-hundred day simple moving average of $36.92. The firm has a market cap of $4.37 billion, a P/E ratio of 69.73, a P/E/G ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $178.31 million for the quarter, compared to analyst estimates of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. The business's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. As a group, sell-side analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PECO. Wells Fargo & Company cut their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Mizuho cut their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased 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 report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of "Moderate Buy" and a consensus target price of $38.83.

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.