Hsbc Holdings PLC lifted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,182 shares of the company's stock after purchasing an additional 9,422 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Phillips Edison & Company, Inc. worth $3,938,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in PECO. Allspring Global Investments Holdings LLC bought a new position in Phillips Edison & Company, Inc. in the 4th quarter worth about $488,000. Barclays PLC lifted its stake 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 worth $10,538,000 after buying an additional 92,129 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 2.4% during 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 buying an additional 51,186 shares during the last quarter. Natixis Advisors LLC increased its position 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 valued at $2,047,000 after acquiring an additional 10,865 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Phillips Edison & Company, Inc. by 12.6% in the 4th quarter. LPL Financial LLC now owns 370,636 shares of the company's stock valued at $13,884,000 after acquiring an additional 41,468 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on PECO shares. Wells Fargo & Company decreased their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Finally, Mizuho reduced 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 report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of "Moderate Buy" and an average price target of $38.83.
Get Our Latest Analysis on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Price Performance
NASDAQ:PECO traded up $0.05 during trading hours on Monday, reaching $35.60. The company had a trading volume of 69,432 shares, compared to its average volume of 707,527. The business's 50 day moving average price is $35.51 and its 200-day moving average price is $36.86. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The firm has a market cap of $4.46 billion, a PE ratio of 71.21, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.
Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. The company had revenue of $178.31 million during the quarter, compared to analyst estimates of $170.59 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.
Phillips Edison & Company, Inc. Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 15th will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, July 15th. Phillips Edison & Company, Inc.'s dividend payout ratio (DPR) is 215.79%.
Phillips Edison & Company, Inc. Profile
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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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