Allianz Asset Management GmbH Invests $5.64 Million in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Key Points

• Allianz Asset Management GmbH acquired a new stake in Phillips Edison & Company, purchasing 154,592 shares valued at approximately $5.64 million, representing 0.12% of the company as of its latest SEC filing.
• Phillips Edison & Company reported earnings of $0.64 per share, exceeding consensus estimates, with a year-over-year revenue increase of 10.1% to $173.47 million.
• The company recently announced a dividend of $0.1025 per share, yielding 3.5%, while its dividend payout ratio currently stands at 223.64%.

Allianz Asset Management GmbH bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 154,592 shares of the company's stock, valued at approximately $5,641,000. Allianz Asset Management GmbH owned approximately 0.12% of Phillips Edison & Company, Inc. at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PECO. J.W. Cole Advisors Inc. grew its position in Phillips Edison & Company, Inc. by 190.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 193,445 shares of the company's stock worth $7,059,000 after purchasing an additional 126,912 shares in the last quarter. Edgestream Partners L.P. grew its position in shares of Phillips Edison & Company, Inc. by 86.7% during the 1st quarter. Edgestream Partners L.P. now owns 185,979 shares of the company's stock valued at $6,786,000 after acquiring an additional 86,358 shares during the period. Xponance Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 5.3% during the 1st quarter. Xponance Inc. now owns 9,276 shares of the company's stock valued at $338,000 after buying an additional 467 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Phillips Edison & Company, Inc. by 425.0% during the 1st quarter. Allworth Financial LP now owns 8,510 shares of the company's stock valued at $300,000 after buying an additional 6,889 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. during the 1st quarter valued at approximately $242,000. 80.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PECO has been the topic of several recent analyst reports. Wall Street Zen cut shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Barclays initiated coverage on shares of Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price target on the stock. Finally, Mizuho cut their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of "Hold" and an average target price of $38.50.

Phillips Edison & Company, Inc. Price Performance

NASDAQ PECO traded down $0.32 during trading hours on Thursday, reaching $34.10. 155,324 shares of the company's stock traded hands, compared to its average volume of 765,269. Phillips Edison & Company, Inc. has a 52-week low of $32.40 and a 52-week high of $40.12. The firm has a market cap of $4.28 billion, a PE ratio of 61.99, a PEG ratio of 1.20 and a beta of 0.55. The firm has a 50-day simple moving average of $35.04 and a 200 day simple moving average of $35.53.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating 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%. Phillips Edison & Company, Inc.'s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. Sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were issued a $0.1025 dividend. The ex-dividend date was Monday, June 16th. This represents a yield of 3.5%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 223.64%.

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.