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

Kure Advisory LLC acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,576 shares of the company's stock, valued at approximately $313,000.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $488,000. Barclays PLC lifted its stake in Phillips Edison & Company, Inc. by 49.2% during the third quarter. Barclays PLC now owns 279,432 shares of the company's stock worth $10,538,000 after purchasing an additional 92,129 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Phillips Edison & Company, Inc. by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock worth $80,371,000 after purchasing an additional 51,186 shares in the last quarter. Natixis Advisors LLC lifted its stake in Phillips Edison & Company, Inc. by 24.8% during the fourth quarter. Natixis Advisors LLC now owns 54,647 shares of the company's stock worth $2,047,000 after purchasing an additional 10,865 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Phillips Edison & Company, Inc. by 12.6% during the fourth quarter. LPL Financial LLC now owns 370,636 shares of the company's stock worth $13,884,000 after purchasing an additional 41,468 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PECO shares. Wells Fargo & Company decreased their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Mizuho decreased their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $39.00.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock traded up $0.38 during trading hours on Friday, reaching $35.73. 507,323 shares of the company were exchanged, compared to its average volume of 729,137. Phillips Edison & Company, Inc. has a 1 year low of $30.86 and a 1 year high of $40.12. The stock's fifty day moving average is $35.28 and its 200 day moving average is $36.41. The firm has a market cap of $4.48 billion, a PE ratio of 71.46, a PEG ratio of 1.70 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $178.31 million for the quarter, compared to analyst estimates of $170.59 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. The company's revenue was up 10.2% on a year-over-year basis. Research analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Monday, June 16th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 215.79%.

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.