OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 27,137 Phillips Edison & Company, Inc. $PECO

Key Points

• Oversea-Chinese Banking Corp. acquired 27,137 PECO shares during the second quarter, worth approximately $2.61 million. Institutional investors collectively own 80.7% of Phillips Edison’s stock.
• Phillips Edison reported quarterly revenue of $189.62 million, up 6.7% year over year and above estimates, but earnings per share of $0.33 missed the $0.68 consensus forecast.
• The REIT declared a monthly dividend of $0.1083 per share, representing an annualized yield of about 3.3%. Analysts maintain a consensus “Hold” rating with an average price target of $44.78.

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 27,137 shares of the company's stock, valued at approximately $2,612,000.

Several other hedge funds have also modified their holdings of the company. CX Institutional grew its holdings in shares of Phillips Edison & Company, Inc. by 115.5% in the second quarter. CX Institutional now owns 724 shares of the company's stock valued at $30,000 after purchasing an additional 388 shares in the last quarter. Western Wealth Management LLC purchased a new stake in Phillips Edison & Company, Inc. during the first quarter valued at $29,000. Aster Capital Management DIFC Ltd raised its stake in Phillips Edison & Company, Inc. by 55.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,053 shares of the company's stock valued at $37,000 after purchasing an additional 376 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Phillips Edison & Company, Inc. by 143.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $41,000 after purchasing an additional 672 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Phillips Edison & Company, Inc. during the third quarter valued at $43,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

Phillips Edison & Company, Inc. stock opened at $39.43 on Friday. Phillips Edison & Company, Inc. has a fifty-two week low of $32.98 and a fifty-two week high of $44.38. The company has a market capitalization of $5.07 billion, a PE ratio of 34.29, a P/E/G ratio of 2.06 and a beta of 0.52. The company has a 50 day moving average price of $41.76 and a 200-day moving average price of $39.87.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.68 by ($0.35). Phillips Edison & Company, Inc. had a net margin of 19.14% and a return on equity of 5.52%. The firm had revenue of $189.62 million for the quarter, compared to the consensus estimate of $187.46 million. During the same period last year, the firm earned $0.64 earnings per share. The company's revenue for the quarter was up 6.7% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2026 guidance at 0.950-0.970 EPS. On average, analysts forecast that Phillips Edison & Company, Inc. will post 2.77 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.1083 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 3.3%. Phillips Edison & Company, Inc.'s dividend payout ratio is 113.04%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PECO shares. Wells Fargo & Company boosted their target price on shares of Phillips Edison & Company, Inc. from $42.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Weiss Ratings raised shares of Phillips Edison & Company, Inc. from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 23rd. UBS Group lifted their price target on Phillips Edison & Company, Inc. from $43.00 to $46.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price objective on Phillips Edison & Company, Inc. from $41.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. Finally, Griffin Securities set a $47.00 price objective on Phillips Edison & Company, Inc. in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $44.78.

Phillips Edison & Company, Inc. 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source