Jacobs Levy Equity Management Inc. Reduces Stock Position in Phillips Edison & Company, Inc. $PECO

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Phillips Edison & Company, Inc. by 12.5%, selling 22,807 shares during the first quarter, leaving them with 159,049 shares worth approximately $5.8 million.
• Phillips Edison & Company, Inc. reported a quarterly EPS of $0.64, slightly beating analysts' expectations, and a 10.1% increase in revenue compared to the same quarter last year.
• The company announced a monthly dividend of $0.1083 per share, reflecting an annualized yield of 3.6%, with the ex-dividend date set for October 15th.

Jacobs Levy Equity Management Inc. cut its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,049 shares of the company's stock after selling 22,807 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.13% of Phillips Edison & Company, Inc. worth $5,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. bought a new stake in Phillips Edison & Company, Inc. in the 1st quarter valued at about $242,000. Teacher Retirement System of Texas increased its position 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 valued at $1,324,000 after buying an additional 3,841 shares in the last quarter. Principal Financial Group Inc. increased its position 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 valued at $22,749,000 after buying an additional 28,255 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Phillips Edison & Company, Inc. in the 1st quarter valued at about $1,002,000. Finally, Charles Schwab Investment Management Inc. increased its position 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 valued at $79,331,000 after buying an additional 28,534 shares in the last quarter. 80.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays decreased their target price on 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. LADENBURG THALM/SH SH initiated coverage on Phillips Edison & Company, Inc. in a report on Tuesday. They set a "buy" rating and a $40.00 price objective for the company. Wall Street Zen lowered Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Mizuho decreased their price objective on 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. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO traded down $0.36 during midday trading on Friday, reaching $35.60. The company's stock had a trading volume of 1,144,142 shares, compared to its average volume of 714,943. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $40.12. The firm has a 50 day moving average price of $34.59 and a 200-day moving average price of $35.13. The stock has a market capitalization of $4.47 billion, a P/E ratio of 64.73, a PEG ratio of 1.22 and a beta of 0.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The firm had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. During the same quarter in the previous year, the business earned $0.59 EPS. The company's 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. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Wednesday, October 15th will be paid a $0.1083 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, October 15th. Phillips Edison & Company, Inc.'s payout ratio is presently 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.