Norges Bank Takes Position in Phillips Edison & Company, Inc. $PECO

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Phillips Edison & Company, buying 1,991,837 shares valued at about $70.85 million, equal to roughly 1.58% of the company.
• Analysts remain cautious overall: several firms recently raised price targets, but the stock’s consensus rating is still Hold with an average target price of $41.43.
• Phillips Edison reported quarterly EPS of $0.24, missing expectations, though revenue came in above estimates; the company also announced a monthly dividend of $0.1083 per share, implying a 3.2% yield.

Norges Bank bought a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,991,837 shares of the company's stock, valued at approximately $70,850,000. Norges Bank owned about 1.58% of Phillips Edison & Company, Inc. at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in shares of Phillips Edison & Company, Inc. by 12.8% during the first quarter. Royal Bank of Canada now owns 81,726 shares of the company's stock worth $2,982,000 after purchasing an additional 9,250 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 8.2% during the first quarter. AQR Capital Management LLC now owns 11,091 shares of the company's stock worth $405,000 after purchasing an additional 845 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the first quarter worth about $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Phillips Edison & Company, Inc. by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company's stock worth $2,668,000 after purchasing an additional 3,199 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 49.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,604 shares of the company's stock worth $91,000 after purchasing an additional 865 shares during the period. Hedge funds and other institutional investors own 80.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley lifted their target price on Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 21st. Wells Fargo & Company lifted their target price on Phillips Edison & Company, Inc. from $40.00 to $42.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 26th. UBS Group lifted their price target on Phillips Edison & Company, Inc. from $38.00 to $43.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Barclays lifted their price target on Phillips Edison & Company, Inc. from $42.00 to $45.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 12th. Finally, Evercore reiterated an "outperform" rating and set a $43.00 price target on shares of Phillips Edison & Company, Inc. in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $41.43.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock opened at $40.31 on Friday. The stock has a market capitalization of $5.07 billion, a PE ratio of 43.82, a price-to-earnings-growth ratio of 2.15 and a beta of 0.53. Phillips Edison & Company, Inc. has a 12 month low of $32.84 and a 12 month high of $41.07. The business has a 50 day simple moving average of $39.17 and a 200-day simple moving average of $37.42.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.43). Phillips Edison & Company, Inc. had a return on equity of 4.46% and a net margin of 15.61%.The firm had revenue of $190.74 million for the quarter, compared to analysts' expectations of $184.91 million. During the same quarter in the previous year, the firm posted $0.65 earnings per share. The firm's revenue for the quarter was up 6.9% compared to the same quarter last year. Phillips Edison & Company, Inc. has set its FY 2026 guidance at 0.790-0.810 EPS. On average, equities research analysts anticipate that Phillips Edison & Company, Inc. will post 2.76 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Wednesday, July 15th will be issued a $0.1083 dividend. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, July 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 141.30%.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company's investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.

In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.