Y Intercept Hong Kong Ltd purchased a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 48,641 shares of the company's stock, valued at approximately $1,820,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of Phillips Edison & Company, Inc. by 2.3% during the second quarter. State Street Corp now owns 7,349,080 shares of the company's stock worth $258,169,000 after purchasing an additional 166,108 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Phillips Edison & Company, Inc. by 5.4% in the fourth quarter. Wellington Management Group LLP now owns 6,308,034 shares of the company's stock valued at $224,377,000 after buying an additional 325,215 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,322,844 shares of the company's stock valued at $82,624,000 after buying an additional 86,749 shares during the period. Norges Bank purchased a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter valued at about $70,850,000. Finally, Balyasny Asset Management L.P. lifted its position in Phillips Edison & Company, Inc. by 191.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,869,618 shares of the company's stock worth $64,184,000 after acquiring an additional 1,229,186 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.
Phillips Edison & Company, Inc. Trading Up 0.1%
PECO stock opened at $42.00 on Friday. Phillips Edison & Company, Inc. has a twelve month low of $32.84 and a twelve month high of $42.70. The company has a market capitalization of $5.28 billion, a P/E ratio of 45.65, a PEG ratio of 2.23 and a beta of 0.52. The firm has a 50 day simple moving average of $40.75 and a 200-day simple moving average of $38.54.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.43). Phillips Edison & Company, Inc. had a net margin of 15.61% and a return on equity of 4.46%. The company had revenue of $190.74 million during the quarter, compared to analyst estimates of $184.91 million. During the same period in the prior year, the company earned $0.65 earnings per share. The company's revenue was up 6.9% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2026 guidance at 0.790-0.810 EPS. On average, research analysts predict that Phillips Edison & Company, Inc. will post 2.76 EPS for the current year.
Phillips Edison & Company, Inc. Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th will be given a $0.1083 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 3.1%. Phillips Edison & Company, Inc.'s payout ratio is presently 141.30%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on PECO. LADENBURG THALM/SH SH upped their price target on Phillips Edison & Company, Inc. from $44.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. UBS Group lifted their price objective on shares of Phillips Edison & Company, Inc. from $43.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday. Weiss Ratings cut shares of Phillips Edison & Company, Inc. from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, July 2nd. Morgan Stanley upped their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 21st. Finally, Wells Fargo & Company raised their price target on shares of Phillips Edison & Company, Inc. from $40.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $42.86.
Read Our Latest Stock Analysis on PECO
About Phillips Edison & Company, Inc.
(
Free Report)
Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company's investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.
In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.
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