Citigroup Inc. Buys 24,572 Shares of Phillips Edison & Company, Inc. $PECO

Key Points

• Citigroup Inc. increased its stake in Phillips Edison & Company, purchasing an additional 24,572 shares, raising its holdings by 12.7% to a total of 218,095 shares, worth nearly $8 million.
• Phillips Edison reported a quarterly earnings per share of $0.64, slightly exceeding analyst estimates, with a net margin of 9.91% and year-over-year revenue growth of 10.1%.
• The company announced a monthly dividend of $0.1025 per share, reflecting a dividend yield of 3.6%, although it has a high payout ratio of 223.64%.

Citigroup Inc. lifted its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 12.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 218,095 shares of the company's stock after acquiring an additional 24,572 shares during the quarter. Citigroup Inc. owned approximately 0.17% of Phillips Edison & Company, Inc. worth $7,958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PECO. Fifth Third Bancorp grew its stake in Phillips Edison & Company, Inc. by 78.1% in the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company's stock valued at $27,000 after buying an additional 321 shares during the last quarter. CX Institutional acquired a new position in shares of Phillips Edison & Company, Inc. during the first quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Phillips Edison & Company, Inc. by 79.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock worth $50,000 after purchasing an additional 602 shares during the last quarter. State of Wyoming purchased a new position in Phillips Edison & Company, Inc. during the fourth quarter worth about $54,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Phillips Edison & Company, Inc. in the fourth quarter worth about $68,000. 80.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price target on the stock. Mizuho cut their price objective 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. Finally, Wall Street Zen lowered Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $38.50.

Phillips Edison & Company, Inc. Trading Down 1.3%

Shares of Phillips Edison & Company, Inc. stock traded down $0.43 during trading hours on Thursday, reaching $33.79. The stock had a trading volume of 890,899 shares, compared to its average volume of 1,040,176. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 1.16 and a beta of 0.54. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.12. The firm has a 50 day simple moving average of $34.55 and a two-hundred day simple moving average of $35.26.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data 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 business had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The business's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. Sell-side 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 monthly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a $0.1025 dividend. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 223.64%.

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.