103,025 Shares in Phillips Edison & Company, Inc. $PECO Acquired by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC has acquired 103,025 shares of Phillips Edison & Company, Inc. (NASDAQ:PECO), with a total value of approximately $3.76 million, representing 0.08% of the company's stock.
• Phillips Edison reported a quarterly earnings of $0.64 EPS, beating estimates, and had a revenue growth of 10.1% compared to the same quarter last year.
• The company announced a monthly dividend of $0.1025 per share, with a dividend yield of 3.6% and a payout ratio of 223.64%.

Lord Abbett & CO. LLC purchased a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 103,025 shares of the company's stock, valued at approximately $3,759,000. Lord Abbett & CO. LLC owned approximately 0.08% of Phillips Edison & Company, Inc. at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in Phillips Edison & Company, Inc. by 78.1% in the first 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. CX Institutional acquired a new position in Phillips Edison & Company, Inc. in the first quarter valued at $30,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Phillips Edison & Company, Inc. by 79.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock worth $50,000 after acquiring an additional 602 shares during the period. State of Wyoming acquired a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $54,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $68,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Up 2.6%

Shares of NASDAQ:PECO traded up $0.8870 during trading on Friday, reaching $34.6770. The stock had a trading volume of 248,194 shares, compared to its average volume of 794,751. The business has a fifty day moving average price of $34.55 and a 200-day moving average price of $35.26. The stock has a market cap of $4.36 billion, a P/E ratio of 63.06, a PEG ratio of 1.16 and a beta of 0.54. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. During the same quarter in the previous year, the business posted $0.59 earnings per share. The company's revenue was up 10.1% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. As a group, equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) annualized dividend and a yield of 3.5%. Phillips Edison & Company, Inc.'s dividend payout ratio is 223.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PECO shares. Mizuho decreased their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Wall Street Zen downgraded shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, Barclays initiated coverage on shares of Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of "Hold" and a consensus price target of $38.50.

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.