Longboard Asset Management LP Buys Shares of 9,055 Phillips Edison & Company, Inc. $PECO

Key Points

• Longboard Asset Management LP has acquired a new position in Phillips Edison & Company, Inc. by purchasing 9,055 shares valued at approximately $317,000, which represents 0.8% of its portfolio.
• Phillips Edison & Company recently reported a quarterly EPS of $0.64, slightly surpassing analysts' expectations of $0.63, and experienced a 10.1% increase in revenue year-over-year.
• The company announced a monthly dividend of $0.1083 to be paid on November 4th, 2023, with an annualized yield of 3.7% and a high dividend payout ratio of 236.36%.

Longboard Asset Management LP bought a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,055 shares of the company's stock, valued at approximately $317,000. Phillips Edison & Company, Inc. accounts for about 0.8% of Longboard Asset Management LP's investment portfolio, making the stock its 6th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PECO. Townsquare Capital LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 3.6% in the 1st quarter. Townsquare Capital LLC now owns 8,610 shares of the company's stock valued at $314,000 after buying an additional 303 shares during the period. Fifth Third Bancorp lifted its stake in shares of Phillips Edison & Company, Inc. by 78.1% in the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company's stock valued at $27,000 after purchasing an additional 321 shares during the period. Norinchukin Bank The lifted its stake in shares of Phillips Edison & Company, Inc. by 6.9% in the 1st quarter. Norinchukin Bank The now owns 5,785 shares of the company's stock valued at $211,000 after purchasing an additional 372 shares during the period. State of Alaska Department of Revenue lifted its stake 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 valued at $4,701,000 after purchasing an additional 430 shares during the period. Finally, Xponance Inc. lifted its stake 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 valued at $338,000 after purchasing an additional 467 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Trading Down 0.5%

Shares of PECO stock traded down $0.17 on Monday, reaching $34.94. 117,701 shares of the stock were exchanged, compared to its average volume of 794,153. The business's 50 day moving average price is $34.66 and its 200 day moving average price is $35.08. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 63.51, a PEG ratio of 1.19 and a beta of 0.55. Phillips Edison & Company, Inc. has a twelve month low of $32.40 and a twelve month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The business had revenue of $173.47 million during the quarter, compared to analysts' expectations of $174.38 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The business's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. Equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Wednesday, October 15th will be issued a $0.1083 dividend. This represents a c) annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 236.36%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PECO. Mizuho reduced their price target 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. Barclays reduced 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 note on Wednesday, August 27th. Wall Street Zen cut shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, LADENBURG THALM/SH SH started coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, September 9th. They set a "buy" rating and a $40.00 price objective for the company. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.83.

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.