Principal Financial Group Inc. Has $22.75 Million Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Principal Financial Group Inc. grew its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 623,420 shares of the company's stock after purchasing an additional 28,255 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of Phillips Edison & Company, Inc. worth $22,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp lifted its stake in Phillips Edison & Company, Inc. by 78.1% during the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock valued at $27,000 after buying an additional 321 shares in the last quarter. CX Institutional acquired a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at about $30,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 purchasing an additional 602 shares during the period. State of Wyoming acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $54,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $68,000. Institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO traded up $0.04 during mid-day trading on Friday, reaching $34.59. The stock had a trading volume of 526,451 shares, compared to its average volume of 734,176. The business's 50 day moving average is $35.27 and its 200 day moving average is $35.73. 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 cap of $4.34 billion, a P/E ratio of 60.69, a PEG ratio of 1.22 and a beta of 0.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a return on equity of 2.73% and a net margin of 10.51%. The company had revenue of $178.31 million for the quarter, compared to the consensus estimate of $170.59 million. During the same quarter last year, the company posted $0.60 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.1025 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 3.5%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 215.79%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PECO. Barclays began coverage on Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 target price on the stock. Wells Fargo & Company dropped 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, March 26th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $38.67.

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.