Allianz Asset Management GmbH Sells 31,537 Shares of Phillips Edison & Company, Inc. $PECO

Key Points

• Allianz Asset Management GmbH reduced its stake in Phillips Edison & Company, Inc. by 20.4%, selling 31,537 shares during the 2nd quarter, which left them with approximately 123,055 shares valued at $4,311,000.
• Phillips Edison reported a 10.4% year-over-year increase in quarterly revenue, achieving $178.29 million, and beat earnings estimates with $0.65 per share.
• The company recently declared a monthly dividend of $0.1083 per share, yielding 3.8%, with a payout ratio of 236.36%.

Allianz Asset Management GmbH lessened its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 20.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,055 shares of the company's stock after selling 31,537 shares during the period. Allianz Asset Management GmbH owned approximately 0.10% of Phillips Edison & Company, Inc. worth $4,311,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Townsquare Capital LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 3.6% during the 1st quarter. Townsquare Capital LLC now owns 8,610 shares of the company's stock valued at $314,000 after purchasing an additional 303 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in Phillips Edison & Company, Inc. by 1.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 36,853 shares of the company's stock valued at $1,291,000 after acquiring an additional 371 shares in the last quarter. Norinchukin Bank The lifted its stake in Phillips Edison & Company, Inc. by 6.9% in the 1st quarter. Norinchukin Bank The now owns 5,785 shares of the company's stock valued at $211,000 after acquiring an additional 372 shares in the last quarter. CWM LLC lifted its stake in Phillips Edison & Company, Inc. by 2.0% in the 2nd quarter. CWM LLC now owns 19,777 shares of the company's stock valued at $693,000 after acquiring an additional 385 shares in the last quarter. Finally, A&I Financial Services LLC lifted its stake in Phillips Edison & Company, Inc. by 3.9% in the 2nd quarter. A&I Financial Services LLC now owns 11,419 shares of the company's stock valued at $400,000 after acquiring an additional 433 shares in the last quarter. Institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Down 0.9%

NASDAQ:PECO opened at $34.42 on Friday. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 62.58, a price-to-earnings-growth ratio of 1.60 and a beta of 0.54. Phillips Edison & Company, Inc. has a twelve month low of $32.40 and a twelve month high of $40.12. The stock's 50 day moving average price is $34.59 and its two-hundred day moving average price is $34.85.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings results on Thursday, October 23rd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $178.29 million for the quarter, compared to analyst estimates of $177.19 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 3.8%. Phillips Edison & Company, Inc.'s payout ratio is 236.36%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. LADENBURG THALM/SH SH assumed coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They issued a "buy" rating and a $40.00 target price on the stock. Wall Street Zen cut Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Weiss Ratings restated a "hold (c+)" rating on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, October 8th. UBS Group assumed coverage on Phillips Edison & Company, Inc. in a research note on Friday, October 17th. They issued a "neutral" rating and a $37.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on Phillips Edison & Company, Inc. in a research note on Tuesday. They issued an "equal weight" rating and a $36.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of "Hold" and an average price target of $38.86.

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.

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