Northern Trust Corp Has $63.34 Million Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Northern Trust Corp raised its position in Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 26.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,690,805 shares of the company's stock after purchasing an additional 356,368 shares during the quarter. Northern Trust Corp owned approximately 1.38% of Phillips Edison & Company, Inc. worth $63,338,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PECO. Allworth Financial LP grew its stake in shares of Phillips Edison & Company, Inc. by 94.6% in the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company's stock valued at $58,000 after buying an additional 788 shares in the last quarter. FIL Ltd raised its holdings in shares of Phillips Edison & Company, Inc. by 17.8% during the 4th quarter. FIL Ltd now owns 2,155 shares of the company's stock valued at $81,000 after purchasing an additional 325 shares in the last quarter. Blue Trust Inc. boosted its holdings in Phillips Edison & Company, Inc. by 24.9% in the fourth quarter. Blue Trust Inc. now owns 3,023 shares of the company's stock worth $113,000 after purchasing an additional 603 shares in the last quarter. Sterling Capital Management LLC increased its position in Phillips Edison & Company, Inc. by 784.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,387 shares of the company's stock worth $127,000 after buying an additional 3,004 shares during the last quarter. Finally, Eukles Asset Management bought a new position in Phillips Edison & Company, Inc. during the fourth quarter valued at about $156,000. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO traded up $0.75 during trading on Monday, hitting $36.36. 68,660 shares of the stock were exchanged, compared to its average volume of 715,662. The company's fifty day simple moving average is $35.39 and its 200-day simple moving average is $36.81. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 72.35, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $178.31 million for the quarter, compared to analyst estimates of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. The firm's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. On average, research analysts forecast 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 Tuesday, June 3rd. Stockholders of record on Friday, May 16th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, May 16th. Phillips Edison & Company, Inc.'s payout ratio is 215.79%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PECO shares. Wells Fargo & Company cut their price objective on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $38.83.

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.