Phillips Edison & Company, Inc. $PECO Stake Reduced by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Phillips Edison & Company, Inc. by 9.7% in the second quarter, now owning approximately 0.15% of the company valued at $6.8 million.
• Phillips Edison recently announced a monthly dividend of $0.1083, with a yield of 3.8%, scheduled for payment on November 4th.
• Several analysts have downgraded the stock, with Wall Street Zen lowering it to a "sell", while others have set a consensus target price of $38.83.

Public Employees Retirement System of Ohio lessened its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 9.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 194,248 shares of the company's stock after selling 20,775 shares during the period. Public Employees Retirement System of Ohio owned about 0.15% of Phillips Edison & Company, Inc. worth $6,805,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of Phillips Edison & Company, Inc. by 78.1% in the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company's stock valued at $27,000 after purchasing an additional 321 shares during the period. CX Institutional purchased a new position in Phillips Edison & Company, Inc. during the first quarter valued at approximately $30,000. MassMutual Private Wealth & Trust FSB increased its stake in Phillips Edison & Company, Inc. by 79.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company's stock valued at $50,000 after buying an additional 602 shares during the period. Quarry LP lifted its position in Phillips Edison & Company, Inc. by 21,362.5% in the 1st quarter. Quarry LP now owns 1,717 shares of the company's stock worth $63,000 after buying an additional 1,709 shares in the last quarter. Finally, FSC Wealth Advisors LLC acquired a new position in Phillips Edison & Company, Inc. in the 1st quarter worth about $91,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. LADENBURG THALM/SH SH initiated coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, September 9th. They set a "buy" rating and a $40.00 target price on the stock. Barclays cut their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 27th. Finally, Mizuho reduced their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of "Moderate Buy" and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Price Performance

PECO stock opened at $34.49 on Monday. The business has a fifty day moving average price of $34.64 and a 200 day moving average price of $35.05. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $40.12. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 62.71, a P/E/G ratio of 1.18 and a beta of 0.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates 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 previous year, the firm earned $0.59 earnings per share. The business's revenue was up 10.1% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. On average, equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be paid a $0.1083 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a yield of 3.8%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 236.36%.

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.

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