Nuveen Asset Management LLC Purchases 101,719 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Nuveen Asset Management LLC lifted its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 13.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 832,117 shares of the company's stock after buying an additional 101,719 shares during the quarter. Nuveen Asset Management LLC owned about 0.68% of Phillips Edison & Company, Inc. worth $31,171,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PECO. Allworth Financial LP lifted its stake in shares of Phillips Edison & Company, Inc. by 94.6% during the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company's stock worth $58,000 after buying an additional 788 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter worth about $68,000. FIL Ltd lifted its stake in shares of Phillips Edison & Company, Inc. by 17.8% during the 4th quarter. FIL Ltd now owns 2,155 shares of the company's stock worth $81,000 after buying an additional 325 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 24.9% during the 4th quarter. Blue Trust Inc. now owns 3,023 shares of the company's stock worth $113,000 after buying an additional 603 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 784.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,387 shares of the company's stock worth $127,000 after buying an additional 3,004 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Price Performance

Phillips Edison & Company, Inc. stock traded up $0.96 during midday trading on Tuesday, hitting $34.90. The company's stock had a trading volume of 913,750 shares, compared to its average volume of 717,220. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The company has a 50-day moving average price of $35.35 and a two-hundred day moving average price of $36.59. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 69.80, a PEG ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. The firm had revenue of $178.31 million for the quarter, compared to analyst estimates of $170.59 million. During the same period last year, the firm earned $0.60 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, June 16th. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 215.79%.

Analyst Ratings Changes

PECO has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.83.

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.