Amundi Sells 7,700 Shares of Phillips Edison & Company, Inc. $PECO

Key Points

• Amundi has reduced its stake in Phillips Edison & Company, Inc. by 5.9%, selling 7,700 shares and now holding 122,018 shares valued at approximately $4.4 million.
• The company reported a net margin of 9.91% for the last quarter, with earnings per share of $0.64, exceeding expectations by $0.01.
• Phillips Edison & Company has announced a monthly dividend of $0.1083 per share, resulting in an annualized dividend yield of 3.7% and a payout ratio of 223.64%.

Amundi trimmed its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,018 shares of the company's stock after selling 7,700 shares during the period. Amundi owned approximately 0.10% of Phillips Edison & Company, Inc. worth $4,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Townsquare Capital LLC raised its holdings 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 valued at $314,000 after purchasing an additional 303 shares during the last quarter. Fifth Third Bancorp raised its holdings 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 valued at $27,000 after purchasing an additional 321 shares during the last quarter. Norinchukin Bank The raised its holdings in shares of Phillips Edison & Company, Inc. by 6.9% during the first quarter. Norinchukin Bank The now owns 5,785 shares of the company's stock valued at $211,000 after purchasing an additional 372 shares during the last quarter. State of Alaska Department of Revenue raised its holdings 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 purchasing an additional 430 shares during the last quarter. Finally, Xponance Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 5.3% during the first quarter. Xponance Inc. now owns 9,276 shares of the company's stock valued at $338,000 after purchasing an additional 467 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a report on Saturday. Mizuho cut 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. LADENBURG THALM/SH SH assumed coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday. They set a "buy" rating and a $40.00 target price for the company. Finally, Barclays cut their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 27th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO traded down $0.36 during mid-day trading on Friday, reaching $35.60. The stock had a trading volume of 1,144,142 shares, compared to its average volume of 714,943. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 64.73, a PEG ratio of 1.22 and a beta of 0.55. Phillips Edison & Company, Inc. has a 12 month low of $32.40 and a 12 month high of $40.12. The business has a fifty day moving average of $34.59 and a 200 day moving average of $35.14.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly 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. The business had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The company's revenue was up 10.1% on a year-over-year basis. During the same period in the prior 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. On average, research 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 declared a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be given a $0.1083 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, October 15th. Phillips Edison & Company, Inc.'s dividend payout ratio 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.