Voloridge Investment Management LLC Boosts Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Voloridge Investment Management LLC lifted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,613 shares of the company's stock after buying an additional 12,777 shares during the quarter. Voloridge Investment Management LLC's holdings in Phillips Edison & Company, Inc. were worth $2,083,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PECO. Allspring Global Investments Holdings LLC purchased a new stake in Phillips Edison & Company, Inc. in the 4th quarter worth $488,000. Barclays PLC grew its position in shares of Phillips Edison & Company, Inc. by 49.2% in the third quarter. Barclays PLC now owns 279,432 shares of the company's stock valued at $10,538,000 after purchasing an additional 92,129 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Phillips Edison & Company, Inc. by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company's stock valued at $80,371,000 after purchasing an additional 51,186 shares during the period. Natixis Advisors LLC increased its stake in shares of Phillips Edison & Company, Inc. by 24.8% during the fourth quarter. Natixis Advisors LLC now owns 54,647 shares of the company's stock worth $2,047,000 after purchasing an additional 10,865 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of Phillips Edison & Company, Inc. by 12.6% during the 4th quarter. LPL Financial LLC now owns 370,636 shares of the company's stock worth $13,884,000 after purchasing an additional 41,468 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.

Analyst Upgrades and Downgrades

PECO has been the topic of a number of research reports. Mizuho decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. Wells Fargo & Company reduced their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ PECO traded up $0.49 during mid-day trading on Monday, reaching $35.95. The company's stock had a trading volume of 2,142,014 shares, compared to its average volume of 725,166. The stock has a 50-day moving average of $35.34 and a two-hundred day moving average of $36.47. The stock has a market capitalization of $4.51 billion, a P/E ratio of 71.90, a P/E/G ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1-year low of $30.86 and a 1-year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $178.31 million during the quarter, compared to analysts' expectations of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. Phillips Edison & Company, Inc.'s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. Analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a $0.1025 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.23 annualized dividend and a dividend yield of 3.42%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

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.