Dark Forest Capital Management LP Buys 141,702 Shares of Phillips Edison & Company, Inc. $PECO

Key Points

• Dark Forest Capital Management LP increased its holdings in Phillips Edison & Company, Inc. by 625.2% during the first quarter, acquiring an additional 141,702 shares to own a total of 164,368 shares worth approximately $5.998 million.
• Phillips Edison & Company recently reported $0.64 earnings per share for the last quarter, slightly above the consensus estimate of $0.63, with revenue up 10.1% year-over-year.
• The company declared a $0.1025 monthly dividend payable on September 3rd, representing a yield of 3.5%, despite a high dividend payout ratio of 223.64%.

Dark Forest Capital Management LP increased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 625.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,368 shares of the company's stock after acquiring an additional 141,702 shares during the period. Dark Forest Capital Management LP owned about 0.13% of Phillips Edison & Company, Inc. worth $5,998,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fifth Third Bancorp grew its position in Phillips Edison & Company, Inc. by 78.1% during the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after acquiring an additional 321 shares during the last quarter. CX Institutional bought a new stake in Phillips Edison & Company, Inc. during the 1st quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB grew its position in Phillips Edison & Company, Inc. by 79.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock worth $50,000 after acquiring an additional 602 shares during the last quarter. State of Wyoming bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $54,000. Finally, Quarry LP grew its position in Phillips Edison & Company, Inc. by 21,362.5% during the 1st quarter. Quarry LP now owns 1,717 shares of the company's stock worth $63,000 after acquiring an additional 1,709 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PECO. Wall Street Zen lowered Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Mizuho decreased their price target on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Finally, Barclays dropped 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 research report on Wednesday, August 27th. Two 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, the stock has a consensus rating of "Hold" and a consensus target price of $38.33.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $35.19 on Tuesday. The company has a 50 day moving average price of $34.47 and a 200 day moving average price of $35.14. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $40.12. The stock has a market capitalization of $4.42 billion, a PE ratio of 63.98, a price-to-earnings-growth ratio of 1.20 and a beta of 0.55.

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, topping the consensus estimate 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 firm 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 EPS. Phillips Edison & Company, Inc.'s revenue was up 10.1% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. As a group, equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a $0.1025 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 3.5%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 223.64%.

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.

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