Phillips Edison & Company, Inc. (NASDAQ:PECO) Sees Unusually-High Trading Volume - Here's Why

Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) saw strong trading volume on Wednesday . 971,120 shares traded hands during trading, an increase of 34% from the previous session's volume of 726,309 shares.The stock last traded at $35.45 and had previously closed at $35.60.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PECO. Wells Fargo & Company lowered their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Mizuho cut 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 report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from 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

The firm has a market capitalization of $4.48 billion, a PE ratio of 71.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.56. The firm's 50 day moving average price is $35.28 and its 200-day moving average price is $36.39.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its earnings results 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 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 company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. On average, equities research 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 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 3.44%. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

Institutional Trading of Phillips Edison & Company, Inc.

A number of hedge funds and other institutional investors have recently modified their holdings of PECO. Arizona State Retirement System lifted its stake in Phillips Edison & Company, Inc. by 0.8% during the 4th quarter. Arizona State Retirement System now owns 35,534 shares of the company's stock worth $1,331,000 after acquiring an additional 290 shares in the last quarter. Townsquare Capital LLC lifted its position in Phillips Edison & Company, Inc. by 3.6% in the first quarter. Townsquare Capital LLC now owns 8,610 shares of the company's stock valued at $314,000 after acquiring an additional 303 shares during the last quarter. Fifth Third Bancorp increased its position in Phillips Edison & Company, Inc. by 78.1% during the first quarter. Fifth Third Bancorp now owns 732 shares of the company's stock worth $27,000 after buying an additional 321 shares during the period. FIL Ltd raised its position in Phillips Edison & Company, Inc. by 17.8% in 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 during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Phillips Edison & Company, Inc. by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company's stock worth $4,811,000 after buying an additional 344 shares during the period. 80.70% of the stock is owned by institutional investors and hedge funds.

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.