Avantax Advisory Services Inc. Makes New $2.71 Million Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Key Points

• Avantax Advisory Services Inc. has invested approximately $2.71 million in Phillips Edison & Company, acquiring 74,136 shares during the first quarter.
• Phillips Edison reported a 10.1% year-over-year increase in revenue, reaching $173.47 million, and achieved an EPS of $0.64, exceeding analyst estimates.
• Phillips Edison & Company has a dividend yield of 3.5%, with a recent payout ratio of 223.64% and a dividend payment of $0.1025 per share.

Avantax Advisory Services Inc. bought a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 74,136 shares of the company's stock, valued at approximately $2,705,000. Avantax Advisory Services Inc. owned about 0.06% of Phillips Edison & Company, Inc. at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its position in Phillips Edison & Company, Inc. by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 7,537,917 shares of the company's stock worth $282,370,000 after purchasing an additional 161,963 shares during the last quarter. FMR LLC grew its position in Phillips Edison & Company, Inc. by 14.6% in the 4th quarter. FMR LLC now owns 3,026,358 shares of the company's stock worth $113,367,000 after purchasing an additional 385,983 shares during the last quarter. JPMorgan Chase & Co. grew its position in Phillips Edison & Company, Inc. by 53.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock worth $65,084,000 after purchasing an additional 606,055 shares during the last quarter. Northern Trust Corp grew its position in Phillips Edison & Company, Inc. by 26.7% in the 4th quarter. Northern Trust Corp now owns 1,690,805 shares of the company's stock worth $63,338,000 after purchasing an additional 356,368 shares during the last quarter. Finally, Norges Bank acquired a new stake in Phillips Edison & Company, Inc. in the 4th quarter worth $55,977,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO traded down $0.26 during trading on Friday, reaching $33.53. The stock had a trading volume of 1,469,047 shares, compared to its average volume of 769,045. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12. The business's 50-day moving average price is $35.03 and its 200 day moving average price is $35.50. The stock has a market capitalization of $4.20 billion, a PE ratio of 60.96, a P/E/G ratio of 1.14 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its 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. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The company had revenue of $173.47 million during the quarter, compared to analysts' expectations of $174.38 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. Phillips Edison & Company, Inc.'s quarterly revenue was up 10.1% compared to the same quarter last year. Analysts forecast 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 dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th were paid a $0.1025 dividend. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 350.0%. Phillips Edison & Company, Inc.'s payout ratio is 223.64%.

Analysts Set New Price Targets

Several analysts have issued reports on PECO shares. Wall Street Zen lowered shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Barclays initiated coverage on shares of Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 price objective for the company. Finally, Mizuho reduced their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $38.50.

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.