46,200 Shares in Phillips Edison & Company, Inc. $PECO Bought by Polaris Capital Management LLC

Key Points

• Polaris Capital Management LLC has acquired 46,200 shares of Phillips Edison & Company, Inc., valued at approximately $1.6 million, marking a new position in the company's stock.
• The company reported $0.64 earnings per share for the last quarter, slightly surpassing analyst expectations and demonstrating a 10.1% increase in revenue compared to the previous year.
• Phillips Edison & Company, Inc. declared a monthly dividend of $0.1083 per share with a yield of 3.9%, highlighting its ongoing commitment to returning value to shareholders.

Polaris Capital Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 46,200 shares of the company's stock, valued at approximately $1,618,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PECO. Nuveen LLC purchased a new position in Phillips Edison & Company, Inc. during the 1st quarter worth $32,465,000. Alyeska Investment Group L.P. grew its position in Phillips Edison & Company, Inc. by 42.1% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,013,308 shares of the company's stock worth $73,466,000 after purchasing an additional 596,123 shares during the last quarter. Millennium Management LLC grew its position in Phillips Edison & Company, Inc. by 129.2% during the 1st quarter. Millennium Management LLC now owns 855,138 shares of the company's stock worth $31,204,000 after purchasing an additional 482,057 shares during the last quarter. Vanguard Group Inc. grew its position in Phillips Edison & Company, Inc. by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 19,720,204 shares of the company's stock worth $719,590,000 after purchasing an additional 397,862 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its position in Phillips Edison & Company, Inc. by 54.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 915,000 shares of the company's stock worth $33,388,000 after purchasing an additional 324,139 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Trading Up 0.2%

Shares of PECO opened at $33.75 on Friday. The stock has a market cap of $4.24 billion, a P/E ratio of 61.36, a PEG ratio of 1.15 and a beta of 0.54. The company has a 50-day moving average of $34.57 and a two-hundred day moving average of $35.02. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. The company had revenue of $173.47 million during the quarter, compared to analysts' expectations of $174.38 million. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. As a group, analysts forecast 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 announced a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be given a dividend of $0.1083 per share. The ex-dividend date is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.9%. Phillips Edison & Company, Inc.'s payout ratio is presently 236.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PECO shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Phillips Edison & Company, Inc. in a report on Saturday, September 27th. LADENBURG THALM/SH SH started coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, September 9th. They issued a "buy" rating and a $40.00 target price on the stock. Wall Street Zen downgraded shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a report on Saturday, September 13th. Mizuho lowered their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Finally, Barclays lowered their target price 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, August 27th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has a consensus rating of "Hold" and a consensus price target of $38.83.

Phillips Edison & Company, Inc. 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.

Want to see what other hedge funds are holding PECO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.