Millennium Management LLC Grows Stock Position in Phillips Edison & Company, Inc. $PECO

Key Points

• Millennium Management LLC increased its stake in Phillips Edison & Company by 129.2%, owning 855,138 shares valued at approximately $31.2 million at the end of the first quarter.
• Phillips Edison reported a Q2 earnings per share (EPS) of $0.64, beating estimates, and has set its FY 2025 EPS guidance between 0.610 and 0.640.
• The company also announced a monthly dividend of $0.1083 per share, with a dividend yield of 3.7%, to be paid on November 4th.

Millennium Management LLC raised its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 129.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 855,138 shares of the company's stock after purchasing an additional 482,057 shares during the period. Millennium Management LLC owned 0.68% of Phillips Edison & Company, Inc. worth $31,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,720,204 shares of the company's stock worth $719,590,000 after acquiring an additional 397,862 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,051 shares of the company's stock worth $79,331,000 after acquiring an additional 28,534 shares during the period. Alyeska Investment Group L.P. boosted its holdings in shares of Phillips Edison & Company, Inc. by 42.1% in the first quarter. Alyeska Investment Group L.P. now owns 2,013,308 shares of the company's stock worth $73,466,000 after acquiring an additional 596,123 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Phillips Edison & Company, Inc. by 54.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 915,000 shares of the company's stock worth $33,388,000 after acquiring an additional 324,139 shares during the period. Finally, Nuveen LLC bought a new position in shares of Phillips Edison & Company, Inc. in the first quarter worth $32,465,000. 80.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on PECO shares. Barclays cut their price target on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, August 27th. Mizuho cut 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. Wall Street Zen lowered Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a report on Saturday. Finally, LADENBURG THALM/SH SH started coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They set a "buy" rating and a $40.00 price objective for the company. Three equities research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Stock Down 0.3%

NASDAQ:PECO traded down $0.12 during trading hours on Tuesday, hitting $35.40. 996,946 shares of the company's stock traded hands, compared to its average volume of 736,788. The firm has a market cap of $4.45 billion, a P/E ratio of 64.36, a P/E/G ratio of 1.21 and a beta of 0.55. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12. The business's fifty day simple moving average is $34.62 and its two-hundred day simple moving average is $35.12.

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 (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%.The company had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. During the same quarter last year, the company earned $0.59 earnings per share. The firm's quarterly 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. On average, analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

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

Phillips Edison & Company, Inc. Company 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.