Adage Capital Partners GP L.L.C. Purchases 324,139 Shares of Phillips Edison & Company, Inc. $PECO

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Phillips Edison & Company, acquiring an additional 324,139 shares, raising its total holdings to 915,000 shares, which represents a 54.9% increase.
• Institutional investors control 80.70% of Phillips Edison & Company, with notable investments from firms such as Nuveen LLC and Vanguard Group.
• Phillips Edison & Company has set its FY 2025 earnings guidance between $0.610 and $0.640 EPS, and recently announced a monthly dividend of $0.1083 per share.

Adage Capital Partners GP L.L.C. grew its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 54.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 915,000 shares of the company's stock after purchasing an additional 324,139 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.73% of Phillips Edison & Company, Inc. worth $33,388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Townsquare Capital LLC increased its stake in shares of Phillips Edison & Company, Inc. by 3.6% during the first quarter. Townsquare Capital LLC now owns 8,610 shares of the company's stock worth $314,000 after purchasing an additional 303 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Phillips Edison & Company, Inc. by 78.1% during the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after acquiring an additional 321 shares during the period. Norinchukin Bank The grew its position in Phillips Edison & Company, Inc. by 6.9% during the first quarter. Norinchukin Bank The now owns 5,785 shares of the company's stock worth $211,000 after buying an additional 372 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Phillips Edison & Company, Inc. by 0.3% during the first quarter. State of Alaska Department of Revenue now owns 128,895 shares of the company's stock valued at $4,701,000 after buying an additional 430 shares during the period. Finally, Xponance Inc. increased its position in shares of Phillips Edison & Company, Inc. by 5.3% in the first quarter. Xponance Inc. now owns 9,276 shares of the company's stock worth $338,000 after acquiring an additional 467 shares in the last quarter. Institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Down 1.1%

NASDAQ PECO traded down $0.40 on Monday, reaching $35.75. The company had a trading volume of 545,044 shares, compared to its average volume of 796,120. The stock has a market capitalization of $4.49 billion, a P/E ratio of 65.00, a P/E/G ratio of 1.23 and a beta of 0.55. The company's fifty day moving average is $34.53 and its 200 day moving average is $35.13. Phillips Edison & Company, Inc. has a 52-week low of $32.40 and a 52-week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The company had revenue of $173.47 million during the quarter, compared to the consensus estimate of $174.38 million. During the same quarter in the previous year, the company posted $0.59 EPS. Phillips Edison & Company, Inc.'s quarterly revenue was up 10.1% compared to the same quarter last year. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. On average, research analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be issued a $0.1083 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.6%. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 236.36%.

Analysts Set New Price Targets

Several analysts recently weighed in on PECO shares. Barclays cut their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 27th. Mizuho dropped 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 research report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Phillips Edison & Company, Inc. from a "sell" rating to a "hold" rating in a report on Friday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $38.33.

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.