Edgestream Partners L.P. Buys 86,358 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Edgestream Partners L.P. grew its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 86.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,979 shares of the company's stock after purchasing an additional 86,358 shares during the quarter. Edgestream Partners L.P. owned approximately 0.15% of Phillips Edison & Company, Inc. worth $6,786,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PECO. Fifth Third Bancorp increased its stake 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 buying an additional 321 shares during the period. FIL Ltd raised its position in shares of Phillips Edison & Company, Inc. by 17.8% during the 4th quarter. FIL Ltd now owns 2,155 shares of the company's stock worth $81,000 after buying an additional 325 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Phillips Edison & Company, Inc. by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 128,895 shares of the company's stock worth $4,701,000 after purchasing an additional 430 shares in the last quarter. Xponance Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 5.3% in the 1st quarter. Xponance Inc. now owns 9,276 shares of the company's stock worth $338,000 after purchasing an additional 467 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of 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 valued at $50,000 after acquiring an additional 602 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Performance

PECO stock traded down $0.31 during mid-day trading on Friday, hitting $34.71. 300,177 shares of the company were exchanged, compared to its average volume of 734,109. The firm has a market cap of $4.35 billion, a P/E ratio of 60.91, a P/E/G ratio of 1.22 and a beta of 0.55. Phillips Edison & Company, Inc. has a 1-year low of $28.34 and a 1-year high of $40.12. The firm's 50 day simple moving average is $35.21 and its 200 day simple moving average is $35.66.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. The business had revenue of $178.31 million during the quarter, compared to analysts' expectations of $170.59 million. During the same period last year, the business earned $0.60 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were paid a $0.1025 dividend. This represents a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 16th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 215.79%.

Analyst Upgrades and Downgrades

Several research firms have commented on PECO. Barclays began 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 target price for the company. Wells Fargo & Company 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 note on Wednesday, March 26th. Finally, 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 note on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $38.50.

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.