State Board of Administration of Florida Retirement System Takes Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

State Board of Administration of Florida Retirement System acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,120 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bellevue Asset Management LLC purchased a new stake in Phillips Edison & Company, Inc. during the first quarter worth approximately $38,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in Phillips Edison & Company, Inc. during the second quarter worth approximately $41,000. Mach 1 Financial Group LLC purchased a new stake in Phillips Edison & Company, Inc. during the first quarter worth approximately $44,000. Prestige Wealth Management Group LLC purchased a new stake in Phillips Edison & Company, Inc. during the first quarter worth approximately $46,000. Finally, Ritter Daniher Financial Advisory LLC purchased a new stake in Phillips Edison & Company, Inc. during the first quarter worth approximately $46,000. Hedge funds and other institutional investors own 72.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Phillips Edison & Company, Inc. from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Monday, August 29th. Mizuho reduced their price objective on Phillips Edison & Company, Inc. from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, November 11th. Finally, Credit Suisse Group reduced their price objective on Phillips Edison & Company, Inc. to $32.00 in a research note on Friday, November 4th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $33.20.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock opened at $31.51 on Tuesday. The business’s fifty day moving average price is $29.85 and its 200 day moving average price is $32.25. Phillips Edison & Company, Inc. has a 1-year low of $27.07 and a 1-year high of $36.35. The firm has a market capitalization of $3.69 billion, a PE ratio of 125.64, a P/E/G ratio of 2.12 and a beta of 0.58.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, December 1st. Investors of record on Tuesday, November 15th will be issued a dividend of $0.0933 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, November 14th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 448.00%.

Phillips Edison & Company, Inc. Company Profile

(Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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