Ameriflex Group Inc. Decreases Stake in Phillips Edison & Company, Inc. $PECO

Key Points

• Ameriflex Group Inc. has significantly reduced its stake in Phillips Edison & Company, Inc. by 70.1%, leaving it with 5,687 shares valued at approximately $199,000.
• The stock of Phillips Edison & Company, Inc. currently has a market cap of $4.24 billion and a P/E ratio of 61.36, with its shares opening at $33.75.
• Phillips Edison & Company, Inc. has announced a monthly dividend of $0.1083 per share, with an annualized yield of 3.9%, despite a high dividend payout ratio of 236.36%.

Ameriflex Group Inc. decreased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 70.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,687 shares of the company's stock after selling 13,358 shares during the period. Ameriflex Group Inc.'s holdings in Phillips Edison & Company, Inc. were worth $199,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in shares of Phillips Edison & Company, Inc. by 78.1% during the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company's stock valued at $27,000 after acquiring an additional 321 shares during the period. CX Institutional bought a new position in shares of Phillips Edison & Company, Inc. during the 1st quarter valued at approximately $30,000. Quarry LP grew its position in shares of Phillips Edison & Company, Inc. by 21,362.5% during the 1st quarter. Quarry LP now owns 1,717 shares of the company's stock valued at $63,000 after acquiring an additional 1,709 shares during the period. FSC Wealth Advisors LLC bought a new position in shares of Phillips Edison & Company, Inc. during the 1st quarter valued at approximately $91,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Phillips Edison & Company, Inc. by 20.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,995 shares of the company's stock valued at $109,000 after acquiring an additional 515 shares during the period. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Performance

Phillips Edison & Company, Inc. stock opened at $33.75 on Friday. The firm's fifty day moving average price is $34.57 and its 200-day moving average price is $35.02. The stock has a market cap of $4.24 billion, a P/E ratio of 61.36, a price-to-earnings-growth ratio of 1.15 and a beta of 0.54. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. The firm had revenue of $173.47 million for 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 business's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. On average, analysts predict 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 disclosed a monthly dividend, which will be paid on Tuesday, November 4th. Stockholders 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) annualized dividend and a dividend yield of 3.9%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 236.36%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, September 9th. They set a "buy" rating and a $40.00 target price for the company. Mizuho reduced their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. 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. Barclays cut their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Phillips Edison & Company, Inc. in a report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of "Hold" and an average price target of $38.83.

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.

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.