State Street Corp Acquires 18,429 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

State Street Corp boosted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,068,684 shares of the company’s stock after purchasing an additional 18,429 shares during the period. State Street Corp owned about 5.77% of Phillips Edison & Company, Inc. worth $267,289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PECO. Duff & Phelps Investment Management Co. purchased a new position in Phillips Edison & Company, Inc. in the second quarter worth about $32,120,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Phillips Edison & Company, Inc. by 408.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company’s stock worth $28,879,000 after purchasing an additional 615,076 shares during the last quarter. Millennium Management LLC purchased a new position in Phillips Edison & Company, Inc. in the second quarter worth about $8,397,000. Dimensional Fund Advisors LP boosted its position in Phillips Edison & Company, Inc. by 16.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after purchasing an additional 179,775 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Phillips Edison & Company, Inc. by 578.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company’s stock worth $5,247,000 after purchasing an additional 118,640 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Trading Down 0.5 %

NASDAQ PECO opened at $39.02 on Wednesday. The stock’s 50 day moving average is $38.08 and its 200 day moving average is $35.86. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $40.12. The stock has a market cap of $4.78 billion, a PE ratio of 84.83, a P/E/G ratio of 3.61 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period in the prior year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts forecast 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 disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Wall Street Analysts Forecast Growth

PECO has been the topic of several research reports. Mizuho raised their target price on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday. Compass Point lifted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Wolfe Research raised 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, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Hold” and a consensus target price of $39.14.

Phillips Edison & Company, Inc. 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.