Nuveen LLC Takes $32.47 Million Position in Phillips Edison & Company, Inc. $PECO

Key Points

• Nuveen LLC has acquired approximately 889,699 shares of Phillips Edison & Company, valued at around $32.5 million, marking a new position for the firm.
• The company recently reported a quarterly EPS of $0.64, exceeding analysts' expectations, along with a revenue of $173.47 million, a 10.1% increase year-over-year.
• Phillips Edison & Company announced a monthly dividend of $0.1025 per share, yielding approximately 3.6%, with a payout ratio of 223.64%.

Nuveen LLC acquired a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 889,699 shares of the company's stock, valued at approximately $32,465,000. Nuveen LLC owned about 0.71% of Phillips Edison & Company, Inc. as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp grew its holdings in Phillips Edison & Company, Inc. by 78.1% during the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock valued at $27,000 after purchasing an additional 321 shares during the period. CX Institutional bought a new stake in Phillips Edison & Company, Inc. during the first quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB grew its holdings in Phillips Edison & Company, Inc. by 79.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock valued at $50,000 after purchasing an additional 602 shares during the period. State of Wyoming bought a new stake in Phillips Edison & Company, Inc. during the fourth quarter valued at about $54,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Phillips Edison & Company, Inc. during the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays assumed coverage on Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 price target for the company. 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. Finally, Wall Street Zen lowered Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $38.50.

Phillips Edison & Company, Inc. Stock Up 2.3%

Phillips Edison & Company, Inc. stock traded up $0.7680 during midday trading on Friday, reaching $34.5580. 184,348 shares of the stock traded hands, compared to its average volume of 794,321. The stock's fifty day moving average is $34.55 and its 200-day moving average is $35.26. Phillips Edison & Company, Inc. has a 12 month low of $32.40 and a 12 month high of $40.12. The stock has a market cap of $4.34 billion, a P/E ratio of 62.92, a PEG ratio of 1.16 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. During the same period in the prior year, the business posted $0.59 earnings per share. The company's quarterly 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. On average, equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be issued a $0.1025 dividend. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Friday, August 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 223.64%.

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.