Voya Investment Management LLC Increases Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Voya Investment Management LLC grew its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO - Free Report) by 54.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,764 shares of the company's stock after purchasing an additional 23,049 shares during the quarter. Voya Investment Management LLC owned approximately 0.05% of Phillips Edison & Company, Inc. worth $2,464,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in PECO. Norges Bank purchased a new position in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $55,977,000. JPMorgan Chase & Co. boosted its holdings in shares of Phillips Edison & Company, Inc. by 53.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company's stock valued at $65,084,000 after acquiring an additional 606,055 shares during the period. ExodusPoint Capital Management LP grew its position in shares of Phillips Edison & Company, Inc. by 341.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 499,336 shares of the company's stock worth $18,705,000 after acquiring an additional 386,145 shares during the last quarter. FMR LLC increased its holdings in shares of 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 acquiring an additional 385,983 shares during the period. Finally, Aew Capital Management L P increased its holdings in shares of Phillips Edison & Company, Inc. by 47.0% in the 4th quarter. Aew Capital Management L P now owns 627,889 shares of the company's stock valued at $23,521,000 after acquiring an additional 200,819 shares during the period. Institutional investors and hedge funds own 80.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company lowered their price target on 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. Finally, Mizuho dropped their price target on 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 given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $35.55 on Friday. The stock has a market capitalization of $4.45 billion, a PE ratio of 71.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. The company has a fifty day moving average of $35.51 and a 200-day moving average of $36.86. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $178.31 million during the quarter, compared to the consensus estimate of $170.59 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm's revenue was up 10.2% compared to the same quarter last year. Equities analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed 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 is Tuesday, July 15th. Phillips Edison & Company, Inc.'s dividend payout ratio is presently 215.79%.

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.

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