Adage Capital Partners GP L.L.C. Raises Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Adage Capital Partners GP L.L.C. lifted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 31.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 590,861 shares of the company's stock after purchasing an additional 140,861 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.48% of Phillips Edison & Company, Inc. worth $22,134,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PECO. Norges Bank bought a new position in shares of Phillips Edison & Company, Inc. during the 4th quarter valued at about $55,977,000. JPMorgan Chase & Co. raised its stake in shares of Phillips Edison & Company, Inc. by 53.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock worth $65,084,000 after acquiring an additional 606,055 shares in the last quarter. ExodusPoint Capital Management LP lifted its stake in shares of Phillips Edison & Company, Inc. by 341.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 499,336 shares of the company's stock valued at $18,705,000 after acquiring an additional 386,145 shares during the last quarter. FMR LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 14.6% in the fourth quarter. FMR LLC now owns 3,026,358 shares of the company's stock worth $113,367,000 after purchasing an additional 385,983 shares during the last quarter. Finally, Aew Capital Management L P raised its holdings in Phillips Edison & Company, Inc. by 47.0% during the 4th quarter. Aew Capital Management L P now owns 627,889 shares of the company's stock valued at $23,521,000 after buying an additional 200,819 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock traded up $0.51 during trading on Friday, hitting $35.47. 128,120 shares of the company's stock traded hands, compared to its average volume of 707,803. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The business has a 50-day simple moving average of $35.52 and a 200-day simple moving average of $36.88. The stock has a market capitalization of $4.44 billion, a P/E ratio of 70.87, a PEG ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.02. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. The business had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. During the same period in the previous year, the company posted $0.60 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th were paid a $0.1025 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $1.23 annualized dividend and a dividend yield of 3.47%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 215.79%.

Analyst Ratings Changes

Several equities research analysts recently commented on PECO shares. Mizuho dropped their price objective on shares of 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. Wells Fargo & Company cut their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. dropped their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.