Nuveen Asset Management LLC Has $31.17 Million Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

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

Several other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Phillips Edison & Company, Inc. by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 69,912 shares of the company's stock worth $2,619,000 after acquiring an additional 2,749 shares in the last quarter. Lazard Asset Management LLC increased its holdings in Phillips Edison & Company, Inc. by 45.1% in the fourth quarter. Lazard Asset Management LLC now owns 24,896 shares of the company's stock worth $932,000 after buying an additional 7,740 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Phillips Edison & Company, Inc. by 30.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 181,856 shares of the company's stock worth $6,812,000 after buying an additional 42,710 shares during the last quarter. Deutsche Bank AG increased its holdings in Phillips Edison & Company, Inc. by 10.4% in the fourth quarter. Deutsche Bank AG now owns 359,788 shares of the company's stock worth $13,478,000 after buying an additional 33,933 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Phillips Edison & Company, Inc. in the fourth quarter worth approximately $322,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Mizuho dropped their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Stock Down 3.1%

Shares of PECO stock opened at $34.35 on Thursday. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The business's 50 day moving average is $35.43 and its two-hundred day moving average is $36.73. The company has a market cap of $4.31 billion, a PE ratio of 68.70, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly 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 return on equity of 2.40% and a net margin of 9.48%. The company had revenue of $178.31 million for the quarter, compared to the consensus estimate of $170.59 million. During the same quarter last year, the company posted $0.60 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, 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 Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, June 16th. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 215.79%.

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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