Geneos Wealth Management Inc. Buys 63,306 Shares of Phillips Edison & Company, Inc. $PECO

Key Points

• Geneos Wealth Management Inc. significantly increased its stake in Phillips Edison & Company, growing it by 442.5% to own 77,612 shares valued at approximately $2.83 million as of the latest SEC filing.
• Wall Street analysts have mixed views on Phillips Edison & Company, with Barclays lowering its target price while LADENBURG THALM/SH SH initiated coverage with a "buy" rating and a target price of $40.
• Phillips Edison & Company recently reported a modest earnings beat with $0.64 EPS, and has announced a monthly dividend of $0.1083, representing a 3.6% yield.

Geneos Wealth Management Inc. lifted its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 442.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 77,612 shares of the company's stock after buying an additional 63,306 shares during the quarter. Geneos Wealth Management Inc. owned about 0.06% of Phillips Edison & Company, Inc. worth $2,832,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. during the 1st quarter worth about $242,000. Teacher Retirement System of Texas raised its stake in Phillips Edison & Company, Inc. by 11.8% in the 1st quarter. Teacher Retirement System of Texas now owns 36,284 shares of the company's stock worth $1,324,000 after purchasing an additional 3,841 shares in the last quarter. Principal Financial Group Inc. raised its stake in Phillips Edison & Company, Inc. by 4.7% in the 1st quarter. Principal Financial Group Inc. now owns 623,420 shares of the company's stock worth $22,749,000 after purchasing an additional 28,255 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Phillips Edison & Company, Inc. in the 1st quarter worth about $1,002,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Phillips Edison & Company, Inc. by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,174,051 shares of the company's stock worth $79,331,000 after purchasing an additional 28,534 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company's stock.

Analyst Ratings Changes

Several analysts have 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 research note on Saturday. LADENBURG THALM/SH SH assumed coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They issued a "buy" rating and a $40.00 price objective for the company. Mizuho dropped 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 research note 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 note on Wednesday, August 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $38.83.

Phillips Edison & Company, Inc. Trading Down 1.0%

PECO stock traded down $0.36 during mid-day trading on Friday, hitting $35.60. The stock had a trading volume of 1,144,142 shares, compared to its average volume of 734,446. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12. The firm has a market capitalization of $4.47 billion, a P/E ratio of 64.73, a P/E/G ratio of 1.21 and a beta of 0.55. The firm has a fifty day simple moving average of $34.59 and a 200 day simple moving average of $35.13.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $0.64 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $174.38 million. During the same period last year, the firm earned $0.59 EPS. The business's quarterly revenue was up 10.1% compared to the same quarter last year. 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 company also recently announced a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be issued a $0.1083 dividend. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is currently 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.