Wellington Management Group LLP Has $257.10 Million Stock Position in Phillips Edison & Company, Inc. $PECO

Key Points

• Wellington Management Group LLP has reduced its stake in Phillips Edison & Company, Inc. by 6.5% during the first quarter, now owning 7,045,705 shares valued at approximately $257 million.
• The company recently announced a monthly dividend of $0.1025 per share, yielding 3.6%, with a payout ratio of 223.64%.
• Phillips Edison achieved earnings of $0.64 per share for the quarter, slightly beating consensus estimates, with a forecasted EPS range of 0.610-0.640 for FY 2025.

Wellington Management Group LLP decreased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,045,705 shares of the company's stock after selling 492,212 shares during the period. Wellington Management Group LLP owned 5.62% of Phillips Edison & Company, Inc. worth $257,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PECO. Fifth Third Bancorp raised its stake in shares of Phillips Edison & Company, Inc. by 78.1% during the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after purchasing an additional 321 shares in the last quarter. CX Institutional acquired a new position in Phillips Edison & Company, Inc. in the first quarter worth approximately $30,000. MassMutual Private Wealth & Trust FSB raised its position 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 acquiring an additional 602 shares in the last quarter. State of Wyoming acquired a new stake in Phillips Edison & Company, Inc. in the fourth quarter valued at approximately $54,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Phillips Edison & Company, Inc. in the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PECO. Mizuho cut their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Wall Street Zen lowered Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, Barclays assumed coverage on Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price target for the company. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $38.50.

Phillips Edison & Company, Inc. Stock Up 3.1%

PECO stock traded up $1.06 during mid-day trading on Friday, reaching $34.85. 907,686 shares of the stock traded hands, compared to its average volume of 1,049,626. The firm has a market capitalization of $4.38 billion, a PE ratio of 63.36, a P/E/G ratio of 1.19 and a beta of 0.54. The business has a 50-day moving average of $34.54 and a two-hundred day moving average of $35.24. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week 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 for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $174.38 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The firm's 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 research analysts anticipate 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 disclosed a monthly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given a $0.1025 dividend. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, August 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is currently 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.