Kure Advisory LLC Makes New $313,000 Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Kure Advisory LLC bought a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,576 shares of the company's stock, valued at approximately $313,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System grew its position in Phillips Edison & Company, Inc. by 0.8% during the fourth quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock valued at $1,331,000 after buying an additional 290 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 valued at $81,000 after purchasing an additional 325 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Phillips Edison & Company, Inc. by 0.3% during the 4th quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock valued at $4,811,000 after buying an additional 344 shares in the last quarter. KBC Group NV boosted its stake in shares of Phillips Edison & Company, Inc. by 13.4% in the fourth quarter. KBC Group NV now owns 4,424 shares of the company's stock worth $166,000 after acquiring an additional 522 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in shares of Phillips Edison & Company, Inc. by 0.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 67,697 shares of the company's stock valued at $2,536,000 after buying an additional 568 shares during the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Down 0.7%

PECO traded down $0.26 during trading on Thursday, reaching $35.35. The company had a trading volume of 643,545 shares, compared to its average volume of 728,570. Phillips Edison & Company, Inc. has a 52 week low of $30.86 and a 52 week high of $40.12. The stock has a market cap of $4.43 billion, a P/E ratio of 70.70, a PEG ratio of 1.70 and a beta of 0.56. The business has a 50 day simple moving average of $35.33 and a 200-day simple moving average of $36.46.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. The company had revenue of $178.31 million for the quarter, compared to analysts' expectations of $170.59 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Phillips Edison & Company, Inc.'s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect 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 announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Monday, June 16th. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

Analyst Upgrades and Downgrades

PECO has been the topic of several recent research reports. Mizuho decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. Wells Fargo & Company 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, March 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $39.00.

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.