Phillips Edison & Company, Inc. $PECO Shares Bought by Legal & General Group Plc

Key Points

• Legal & General Group Plc increased its stake in Phillips Edison & Company by 12.2% in the fourth quarter, buying an additional 95,547 shares and bringing its total to 878,521 shares worth about $31.25 million.
• Several analysts adjusted their views on PECO, with target prices raised by firms including Barclays, UBS, and Wells Fargo. The stock’s current consensus rating is Hold, with an average price target of $41.43.
• Phillips Edison reported quarterly EPS of $0.24, below expectations, while revenue came in at $190.74 million, above estimates and up 6.9% year over year. The company also announced a monthly dividend of $0.1083 per share, implying a 3.2% yield.

Legal & General Group Plc boosted its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 12.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 878,521 shares of the company's stock after acquiring an additional 95,547 shares during the period. Legal & General Group Plc owned about 0.70% of Phillips Edison & Company, Inc. worth $31,249,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PECO. Royal Bank of Canada grew its holdings in Phillips Edison & Company, Inc. by 12.8% during the 1st quarter. Royal Bank of Canada now owns 81,726 shares of the company's stock worth $2,982,000 after acquiring an additional 9,250 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 8.2% in the 1st quarter. AQR Capital Management LLC now owns 11,091 shares of the company's stock valued at $405,000 after buying an additional 845 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Phillips Edison & Company, Inc. by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company's stock valued at $2,668,000 after buying an additional 3,199 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 49.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,604 shares of the company's stock valued at $91,000 after buying an additional 865 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PECO shares. Barclays upped their target price on shares of Phillips Edison & Company, Inc. from $42.00 to $45.00 and gave the company an "equal weight" rating in a report on Tuesday, May 12th. Weiss Ratings cut shares of Phillips Edison & Company, Inc. from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday. Evercore restated an "outperform" rating and issued a $43.00 target price on shares of Phillips Edison & Company, Inc. in a report on Monday, April 27th. UBS Group upped their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $43.00 and gave the company a "neutral" rating in a report on Monday, May 18th. Finally, Wells Fargo & Company upped their target price on shares of Phillips Edison & Company, Inc. from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $41.43.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock opened at $40.15 on Friday. The company has a market cap of $5.05 billion, a P/E ratio of 43.64, a PEG ratio of 2.14 and a beta of 0.54. Phillips Edison & Company, Inc. has a one year low of $32.84 and a one year high of $41.07. The firm has a fifty day moving average of $38.93 and a two-hundred day moving average of $37.26.

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

Phillips Edison & Company, Inc. Dividend Announcement

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

About Phillips Edison & Company, Inc.

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.

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