Millennium Management LLC Raises Stake 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 increased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 129.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 855,138 shares of the company's stock after acquiring an additional 482,057 shares during the period. Millennium Management LLC owned approximately 0.68% of Phillips Edison & Company, Inc. worth $31,204,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. bought a new stake in shares of Phillips Edison & Company, Inc. in the 1st quarter worth approximately $242,000. Teacher Retirement System of Texas raised its stake in Phillips Edison & Company, Inc. by 11.8% during the first quarter. Teacher Retirement System of Texas now owns 36,284 shares of the company's stock valued at $1,324,000 after buying an additional 3,841 shares during the last quarter. Principal Financial Group Inc. raised its stake in Phillips Edison & Company, Inc. by 4.7% during the first quarter. Principal Financial Group Inc. now owns 623,420 shares of the company's stock valued at $22,749,000 after buying an additional 28,255 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Phillips Edison & Company, Inc. in the first quarter worth $1,002,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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 in the last quarter. Institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock opened at $35.55 on Thursday. Phillips Edison & Company, Inc. has a one year low of $32.40 and a one year high of $40.12. The stock has a market capitalization of $4.47 billion, a PE ratio of 64.64, a price-to-earnings-growth ratio of 1.21 and a beta of 0.55. The business's fifty day moving average is $34.56 and its 200 day moving average is $35.14.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.64 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 for the quarter, compared to analysts' expectations of $174.38 million. During the same period last year, the firm posted $0.59 earnings per share. Phillips Edison & Company, Inc.'s revenue was up 10.1% compared to the same quarter last year. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. As a group, sell-side 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 disclosed a monthly dividend, which will be paid on Tuesday, November 4th. Investors of record on Wednesday, October 15th will be given 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 dividend yield of 3.7%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 223.64%.

Wall Street Analysts Forecast Growth

Several brokerages have 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. LADENBURG THALM/SH SH began coverage on Phillips Edison & Company, Inc. in a report on Tuesday. They set a "buy" rating and a $40.00 price target for the company. Wall Street Zen upgraded Phillips Edison & Company, Inc. from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Finally, Barclays reduced 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. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

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.

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