Strs Ohio Acquires Shares of 23,000 Phillips Edison & Company, Inc. $PECO

Key Points

• Strs Ohio has invested $839,000 in Phillips Edison & Company, Inc., acquiring 23,000 shares during the first quarter, reflecting a growing interest from institutional investors in the stock.
• Several hedge funds, including Townsquare Capital LLC and Fifth Third Bancorp, have also increased their stakes in PECO, indicating a trend of institutional confidence in the company.
• Phillips Edison recently announced a monthly dividend of $0.1083, representing an annual yield of 3.7%, despite having a high payout ratio of 236.36%.

Strs Ohio bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,000 shares of the company's stock, valued at approximately $839,000.

Other large investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in shares of Phillips Edison & Company, Inc. by 442.5% in the first quarter. Geneos Wealth Management Inc. now owns 77,612 shares of the company's stock valued at $2,832,000 after purchasing an additional 63,306 shares during the period. Intech Investment Management LLC grew its stake in shares of Phillips Edison & Company, Inc. by 29.5% in the first quarter. Intech Investment Management LLC now owns 56,917 shares of the company's stock valued at $2,077,000 after acquiring an additional 12,970 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Phillips Edison & Company, Inc. in the first quarter valued at about $297,000. Millennium Management LLC grew its stake in shares of Phillips Edison & Company, Inc. by 129.2% in the first quarter. Millennium Management LLC now owns 855,138 shares of the company's stock valued at $31,204,000 after acquiring an additional 482,057 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Phillips Edison & Company, Inc. by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company's stock valued at $2,668,000 after acquiring an additional 3,199 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company's stock.

Phillips Edison & Company, Inc. Stock Performance

Phillips Edison & Company, Inc. stock traded up $0.03 during mid-day trading on Tuesday, reaching $35.02. The stock had a trading volume of 62,755 shares, compared to its average volume of 792,726. Phillips Edison & Company, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $40.12. The stock's 50-day simple moving average is $34.66 and its 200-day simple moving average is $35.07. The firm has a market capitalization of $4.40 billion, a PE ratio of 63.68, a price-to-earnings-growth ratio of 1.19 and a beta of 0.55.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, beating 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 last year, the company earned $0.59 earnings per share. The company's revenue for the quarter 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, research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 4th. Investors of record on Wednesday, October 15th will be given a dividend of $0.1083 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, October 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is presently 236.36%.

Analysts Set New Price Targets

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

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.