Alyeska Investment Group L.P. Raises Stock Position in Phillips Edison & Company, Inc. $PECO

Key Points

• Alyeska Investment Group L.P. has increased its holdings in Phillips Edison & Company, Inc. by 42.1% during the first quarter, acquiring a total of 2,013,308 shares valued at approximately $73.5 million.
• Phillips Edison & Company, Inc. has reported a quarterly EPS of $0.64, beating estimates, but with revenues of $173.47 million slightly missing analysts' expectations.
• The company announced a new monthly dividend of $0.1083, resulting in a yield of 3.7%, with the ex-dividend date set for October 15th.

Alyeska Investment Group L.P. boosted its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 42.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,013,308 shares of the company's stock after acquiring an additional 596,123 shares during the period. Alyeska Investment Group L.P. owned 1.61% of Phillips Edison & Company, Inc. worth $73,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its position in Phillips Edison & Company, Inc. by 54.9% during the first quarter. Adage Capital Partners GP L.L.C. now owns 915,000 shares of the company's stock valued at $33,388,000 after acquiring an additional 324,139 shares during the last quarter. Dark Forest Capital Management LP raised its holdings in shares of Phillips Edison & Company, Inc. by 625.2% in the first quarter. Dark Forest Capital Management LP now owns 164,368 shares of the company's stock worth $5,998,000 after buying an additional 141,702 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 10.1% in the first quarter. EP Wealth Advisors LLC now owns 9,479 shares of the company's stock worth $346,000 after buying an additional 872 shares during the last quarter. FJ Capital Management LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 14.6% in the first quarter. FJ Capital Management LLC now owns 32,298 shares of the company's stock worth $1,179,000 after buying an additional 4,109 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Phillips Edison & Company, Inc. by 12.8% in the first quarter. Royal Bank of Canada now owns 81,726 shares of the company's stock worth $2,982,000 after buying an additional 9,250 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Price Performance

PECO stock traded down $0.55 during midday trading on Monday, hitting $35.60. 152,051 shares of the stock traded hands, compared to its average volume of 793,721. The firm has a market cap of $4.47 billion, a P/E ratio of 64.70, a PEG ratio of 1.23 and a beta of 0.55. The stock's fifty day simple moving average is $34.53 and its 200-day simple moving average is $35.13. Phillips Edison & Company, Inc. has a 1-year low of $32.40 and a 1-year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The company's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. On average, research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.1083 per share. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.7%. Phillips Edison & Company, Inc.'s payout ratio is 236.36%.

Analysts Set New Price Targets

A number of research firms have issued reports on PECO. Mizuho decreased their price target on shares of 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. Barclays cut their price objective 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, August 27th. Finally, Wall Street Zen upgraded shares of Phillips Edison & Company, Inc. from a "sell" rating to a "hold" rating in a research note on Friday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $38.33.

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.