VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.33 Million in Phillips Edison & Company, Inc. $PECO

Key Points

• The Virginia Retirement Systems invested approximately $1.33 million in Phillips Edison & Company, purchasing 38,088 shares in the 2nd quarter.
• Phillips Edison & Company reported an EPS of $0.64 for the last quarter, exceeding analyst expectations, with revenue reaching $173.47 million.
• The company announced a monthly dividend of $0.1083, indicating a dividend yield of 3.7%, with the current payout ratio at 236.36%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 38,088 shares of the company's stock, valued at approximately $1,334,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Townsquare Capital LLC grew its stake in Phillips Edison & Company, Inc. by 3.6% during the 1st quarter. Townsquare Capital LLC now owns 8,610 shares of the company's stock worth $314,000 after buying an additional 303 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in Phillips Edison & Company, Inc. by 1.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 36,853 shares of the company's stock worth $1,291,000 after buying an additional 371 shares during the last quarter. Norinchukin Bank The grew its stake in Phillips Edison & Company, Inc. by 6.9% during the 1st quarter. Norinchukin Bank The now owns 5,785 shares of the company's stock worth $211,000 after buying an additional 372 shares during the last quarter. CWM LLC grew its stake in Phillips Edison & Company, Inc. by 2.0% during the 2nd quarter. CWM LLC now owns 19,777 shares of the company's stock worth $693,000 after buying an additional 385 shares during the last quarter. Finally, A&I Financial Services LLC grew its stake in Phillips Edison & Company, Inc. by 3.9% during the 2nd quarter. A&I Financial Services LLC now owns 11,419 shares of the company's stock worth $400,000 after buying an additional 433 shares during the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Up 0.3%

Shares of PECO opened at $34.74 on Thursday. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 63.16, a PEG ratio of 1.18 and a beta of 0.54. The stock's 50-day moving average price is $34.58 and its 200-day moving average price is $34.85.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its 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 firm had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company's revenue was up 10.1% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PECO shares. Barclays boosted their target price on Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, October 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, October 8th. Wall Street Zen downgraded Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Wells Fargo & Company assumed coverage on Phillips Edison & Company, Inc. in a research note on Tuesday. They set an "equal weight" rating and a $36.00 price target on the stock. Finally, UBS Group assumed coverage on Phillips Edison & Company, Inc. in a research note on Friday, October 17th. They set a "neutral" rating and a $37.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $38.86.

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.

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