Y Intercept Hong Kong Ltd Has $238,000 Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Key Points

• Y Intercept Hong Kong Ltd reduced its stake in Phillips Edison & Company, Inc. by 62.8%, now owning 6,527 shares worth approximately $238,000 after selling 11,008 shares in the first quarter.
• Phillips Edison reported an Earnings Per Share (EPS) of $0.64 for the last quarter, exceeding analysts' estimates, though revenue was slightly below expectations at $173.47 million.
• The company's recent dividend of $0.1025 per share represents a yield of 3.5%, but the dividend payout ratio stands at 223.64%.

Y Intercept Hong Kong Ltd lowered its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 62.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,527 shares of the company's stock after selling 11,008 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Phillips Edison & Company, Inc. were worth $238,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Phillips Edison & Company, Inc. by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 7,537,917 shares of the company's stock worth $282,370,000 after purchasing an additional 161,963 shares during the last quarter. FMR LLC boosted its stake in Phillips Edison & Company, Inc. by 14.6% in the 4th quarter. FMR LLC now owns 3,026,358 shares of the company's stock valued at $113,367,000 after purchasing an additional 385,983 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Phillips Edison & Company, Inc. by 53.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock worth $65,084,000 after purchasing an additional 606,055 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Phillips Edison & Company, Inc. by 26.7% during the 4th quarter. Northern Trust Corp now owns 1,690,805 shares of the company's stock worth $63,338,000 after purchasing an additional 356,368 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter worth $55,977,000. Institutional investors and hedge funds own 80.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PECO. Barclays started coverage on Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $37.00 target price on the stock. Mizuho dropped their price objective on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Finally, Wall Street Zen downgraded Phillips Edison & Company, Inc. from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $38.50.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO traded up $0.20 during mid-day trading on Monday, reaching $33.73. 575,081 shares of the company were exchanged, compared to its average volume of 774,125. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.12. The stock has a market capitalization of $4.24 billion, a PE ratio of 61.31, a PEG ratio of 1.14 and a beta of 0.54. The business has a 50 day simple moving average of $35.03 and a two-hundred day simple moving average of $35.50.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share (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 company had revenue of $173.47 million during the quarter, compared to the consensus estimate of $174.38 million. During the same period last year, the company earned $0.59 earnings per share. The firm's revenue was up 10.1% compared to the same quarter last year. On average, analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were paid a dividend of $0.1025 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a yield of 350.0%. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is currently 223.64%.

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.