Swiss National Bank Sells 1,400 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Swiss National Bank decreased its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,100 shares of the company’s stock after selling 1,400 shares during the period. Swiss National Bank owned 0.20% of Phillips Edison & Company, Inc. worth $9,016,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PECO. 1620 Investment Advisors Inc. acquired a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new stake in Phillips Edison & Company, Inc. in the 3rd quarter valued at about $28,000. Hobbs Group Advisors LLC bought a new position in Phillips Edison & Company, Inc. during the second quarter worth about $39,000. PFG Private Wealth Management LLC acquired a new position in Phillips Edison & Company, Inc. during the second quarter worth approximately $62,000. Finally, Blue Trust Inc. increased its position in Phillips Edison & Company, Inc. by 160.2% during the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock worth $75,000 after buying an additional 1,290 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of Phillips Edison & Company, Inc. stock opened at $39.33 on Monday. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 85.50, a PEG ratio of 3.59 and a beta of 0.57. The stock’s 50-day moving average is $37.79 and its 200 day moving average is $35.27. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.83.

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

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Analysts Set New Price Targets

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

About Phillips Edison & Company, Inc.

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.