Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 623,420 shares of the company's stock after buying an additional 28,255 shares during the period. Principal Financial Group Inc. owned 0.50% of Phillips Edison & Company, Inc. worth $22,749,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PECO. Arizona State Retirement System lifted its stake in shares of Phillips Edison & Company, Inc. by 0.8% in the 4th quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock valued at $1,331,000 after purchasing an additional 290 shares during the period. 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 worth $27,000 after purchasing an additional 321 shares in the last quarter. FIL Ltd increased its position in Phillips Edison & Company, Inc. by 17.8% during the fourth quarter. FIL Ltd now owns 2,155 shares of the company's stock valued at $81,000 after acquiring an additional 325 shares during the last quarter. State of Alaska Department of Revenue increased its position in Phillips Edison & Company, Inc. by 0.3% during the first quarter. State of Alaska Department of Revenue now owns 128,895 shares of the company's stock valued at $4,701,000 after acquiring an additional 430 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased 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 during the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PECO shares. Barclays started coverage on Phillips Edison & Company, Inc. in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $37.00 price objective for the company. Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $38.67.

Phillips Edison & Company, Inc. Trading Up 0.1%

NASDAQ:PECO traded up $0.04 during trading hours on Friday, hitting $34.59. 526,451 shares of the stock were exchanged, compared to its average volume of 734,056. Phillips Edison & Company, Inc. has a 52-week low of $32.40 and a 52-week high of $40.12. The firm's fifty day moving average price is $35.27 and its 200 day moving average price is $35.75. The company has a market cap of $4.34 billion, a P/E ratio of 60.69, a P/E/G ratio of 1.21 and a beta of 0.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $170.59 million. During the same period in the prior year, the business posted $0.60 earnings per share. The firm'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 fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed 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. This represents a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, June 16th. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.

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.