Wellington Management Group LLP Sells 492,212 Shares of 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 lessened its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 6.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 19,720,204 shares of the company's stock valued at $719,590,000 after purchasing an additional 397,862 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Phillips Edison & Company, Inc. by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,051 shares of the company's stock valued at $79,331,000 after purchasing an additional 28,534 shares in the last quarter. Northern Trust Corp grew its position in shares of Phillips Edison & Company, Inc. by 26.7% during the fourth quarter. Northern Trust Corp now owns 1,690,805 shares of the company's stock valued at $63,338,000 after purchasing an additional 356,368 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Phillips Edison & Company, Inc. by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,396,937 shares of the company's stock valued at $52,328,000 after purchasing an additional 59,059 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the first quarter valued at about $32,465,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Trading Down 1.1%

NASDAQ:PECO traded down $0.39 during midday trading on Monday, hitting $34.46. 118,873 shares of the company traded hands, compared to its average volume of 794,687. The firm's fifty day moving average is $34.54 and its 200-day moving average is $35.23. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $40.12. The firm has a market capitalization of $4.33 billion, a P/E ratio of 62.65, a P/E/G ratio of 1.19 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, beating 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 company had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. During the same quarter in the prior year, the firm posted $0.59 EPS. Phillips Edison & Company, Inc.'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, research analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

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

Analysts Set New Price Targets

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

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.