Public Sector Pension Investment Board Increases Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Key Points

• The Public Sector Pension Investment Board increased its stake in Phillips Edison & Company, Inc. (NASDAQ: PECO) by 30%, owning approximately 396,982 shares with a value of $14.5 million.
• Several analysts have adjusted their price targets for PECO, with Mizuho lowering its target from $38.00 to $37.00, while the average target price currently stands at $38.50.
• Phillips Edison recently declared a monthly dividend of $0.1025 per share, representing an annualized yield of 3.6%, with a payout ratio of 223.64%.

Public Sector Pension Investment Board raised its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 30.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 396,982 shares of the company's stock after buying an additional 91,523 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of Phillips Edison & Company, Inc. worth $14,486,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Nuveen LLC acquired a new position in Phillips Edison & Company, Inc. in the 1st quarter valued at $32,465,000. Vanguard Group Inc. boosted its holdings in Phillips Edison & Company, Inc. by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,720,204 shares of the company's stock worth $719,590,000 after purchasing an additional 397,862 shares during the period. FMR LLC raised its stake in shares of Phillips Edison & Company, Inc. by 14.6% during the fourth quarter. FMR LLC now owns 3,026,358 shares of the company's stock valued at $113,367,000 after purchasing an additional 385,983 shares in the last quarter. Northern Trust Corp increased its stake in Phillips Edison & Company, Inc. by 26.7% in the 4th quarter. Northern Trust Corp now owns 1,690,805 shares of the company's stock worth $63,338,000 after purchasing an additional 356,368 shares in the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in Phillips Edison & Company, Inc. during the 1st quarter valued at about $5,641,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Performance

Shares of Phillips Edison & Company, Inc. stock traded down $0.09 on Friday, hitting $33.83. The company had a trading volume of 754,090 shares, compared to its average volume of 797,146. The stock has a 50 day moving average of $34.75 and a 200-day moving average of $35.35. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.12. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 61.51, a P/E/G ratio of 1.16 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. During the same period last year, the company posted $0.59 earnings per share. Phillips Edison & Company, Inc.'s quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently commented on the company. Mizuho decreased their target price on 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 downgraded shares of Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Barclays assumed coverage on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target 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.