Intech Investment Management LLC Acquires New Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Intech Investment Management LLC bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,266 shares of the company’s stock, valued at approximately $877,000.

A number of other hedge funds also recently bought and sold shares of PECO. Blue Trust Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 15.5% during the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after purchasing an additional 325 shares during the last quarter. Xponance Inc. grew its stake in Phillips Edison & Company, Inc. by 6.3% in the second quarter. Xponance Inc. now owns 7,789 shares of the company’s stock valued at $255,000 after purchasing an additional 465 shares during the last quarter. Private Advisor Group LLC raised its holdings in Phillips Edison & Company, Inc. by 6.5% in the third quarter. Private Advisor Group LLC now owns 8,009 shares of the company’s stock worth $302,000 after purchasing an additional 487 shares in the last quarter. Calton & Associates Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 1.8% during the third quarter. Calton & Associates Inc. now owns 37,233 shares of the company’s stock valued at $1,404,000 after buying an additional 641 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 4.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 18,081 shares of the company’s stock valued at $608,000 after buying an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. 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. Wells Fargo & Company raised 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 report on Wednesday, August 28th. Compass Point raised their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Finally, Mizuho boosted their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and an average price target of $38.43.

Phillips Edison & Company, Inc. Price Performance

NASDAQ PECO opened at $39.80 on Friday. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 86.52, a PEG ratio of 3.61 and a beta of 0.57. The stock’s fifty day moving average price is $37.84 and its 200 day moving average price is $35.39. 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) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. During the same period in the prior year, the company posted $0.58 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts expect that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

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

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.