Public Sector Pension Investment Board Trims Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Public Sector Pension Investment Board lowered its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 259,938 shares of the company’s stock after selling 9,400 shares during the period. Public Sector Pension Investment Board’s holdings in Phillips Edison & Company, Inc. were worth $9,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in Phillips Edison & Company, Inc. by 67.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock worth $2,541,000 after buying an additional 31,189 shares during the last quarter. Cetera Investment Advisers raised its holdings in Phillips Edison & Company, Inc. by 240.9% during the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after purchasing an additional 826,891 shares in the last quarter. Diversify Wealth Management LLC acquired a new stake in Phillips Edison & Company, Inc. in the second quarter valued at about $2,944,000. Cubist Systematic Strategies LLC purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter valued at approximately $2,695,000. Finally, Charles Schwab Investment Management Inc. increased its position in Phillips Edison & Company, Inc. by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock worth $78,977,000 after purchasing an additional 102,519 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Up 0.9 %

Shares of PECO stock opened at $39.80 on Friday. The stock has a market cap of $4.88 billion, a P/E ratio of 86.52, a P/E/G ratio of 3.65 and a beta of 0.57. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $40.12. The business has a fifty day simple moving average of $37.84 and a 200-day simple moving average of $35.39.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.52). The business had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.58 earnings per share. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.09%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Compass Point raised their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Mizuho raised their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.43.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.