Vestcor Inc acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 20,680 shares of the company's stock, valued at approximately $755,000.
Other large investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in Phillips Edison & Company, Inc. by 490.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 84,470 shares of the company's stock worth $3,082,000 after buying an additional 70,164 shares during the period. LPL Financial LLC boosted its position in Phillips Edison & Company, Inc. by 4.7% during the 1st quarter. LPL Financial LLC now owns 388,084 shares of the company's stock worth $14,161,000 after buying an additional 17,448 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Phillips Edison & Company, Inc. by 1.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,385 shares of the company's stock worth $2,933,000 after buying an additional 1,351 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Phillips Edison & Company, Inc. during the 1st quarter worth approximately $2,705,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Phillips Edison & Company, Inc. during the 1st quarter worth approximately $2,199,000. Institutional investors and hedge funds own 80.70% of the company's stock.
Phillips Edison & Company, Inc. Stock Down 0.2%
Shares of Phillips Edison & Company, Inc. stock traded down $0.06 on Thursday, hitting $33.67. The stock had a trading volume of 1,015,149 shares, compared to its average volume of 785,745. Phillips Edison & Company, Inc. has a one year low of $32.40 and a one year high of $40.12. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 61.22, a PEG ratio of 1.16 and a beta of 0.54. The stock's 50-day simple moving average is $34.98 and its two-hundred day simple moving average is $35.46.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 earnings per share. As a group, equities analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be given 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 dividend yield of 3.7%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 223.64%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on PECO shares. Mizuho dropped their price target on shares of 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. Wall Street Zen lowered 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 issued an "equal weight" rating and a $37.00 target price for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $38.50.
Get Our Latest Report on PECO
About Phillips Edison & Company, Inc.
(
Free Report)
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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