Lord Abbett & CO. LLC Purchases Shares of 103,025 Phillips Edison & Company, Inc. $PECO

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 bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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. as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Fifth Third Bancorp increased its holdings 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 acquiring an additional 321 shares during the last quarter. CX Institutional acquired a new position in Phillips Edison & Company, Inc. in the first quarter valued at $30,000. MassMutual Private Wealth & Trust FSB lifted its position in Phillips Edison & Company, Inc. by 79.4% during the 1st 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 stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth $54,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PECO shares. Mizuho dropped their price objective on 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. Barclays started coverage on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 target price on the stock. Finally, 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. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $38.50.

Phillips Edison & Company, Inc. Trading Down 1.1%

Shares of PECO stock traded down $0.3760 during trading hours on Thursday, hitting $33.8440. The company's stock had a trading volume of 574,891 shares, compared to its average volume of 795,941. The business has a fifty day moving average of $34.59 and a 200-day moving average of $35.28. Phillips Edison & Company, Inc. has a twelve month low of $32.40 and a twelve month high of $40.12. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 61.62, a P/E/G ratio of 1.16 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. The firm had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.Phillips Edison & Company, Inc.'s revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. On average, equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.1025 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, August 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 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.