Mirae Asset Global Investments Co. Ltd. Boosts Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Mirae Asset Global Investments Co. Ltd. lifted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 56,862 shares of the company’s stock after buying an additional 306 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Phillips Edison & Company, Inc. were worth $2,074,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Phillips Edison & Company, Inc. by 46.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock valued at $29,000 after buying an additional 275 shares during the period. Vident Investment Advisory LLC increased its holdings in Phillips Edison & Company, Inc. by 0.9% during the 4th quarter. Vident Investment Advisory LLC now owns 35,349 shares of the company’s stock worth $1,126,000 after purchasing an additional 325 shares during the period. M&T Bank Corp increased its holdings in Phillips Edison & Company, Inc. by 3.5% during the 3rd quarter. M&T Bank Corp now owns 10,033 shares of the company’s stock worth $281,000 after purchasing an additional 337 shares during the period. Demars Financial Group LLC increased its holdings in Phillips Edison & Company, Inc. by 2.8% during the 3rd quarter. Demars Financial Group LLC now owns 12,993 shares of the company’s stock worth $436,000 after purchasing an additional 357 shares during the period. Finally, Strs Ohio increased its holdings in Phillips Edison & Company, Inc. by 1.6% during the 3rd quarter. Strs Ohio now owns 24,900 shares of the company’s stock worth $835,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price target on the stock. Finally, Mizuho upgraded Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and upped their price target for the stock from $35.00 to $37.00 in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.14.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $33.02 on Friday. The stock has a 50-day simple moving average of $34.76 and a 200-day simple moving average of $35.03. The stock has a market cap of $4.04 billion, a P/E ratio of 71.78, a P/E/G ratio of 3.61 and a beta of 0.55. Phillips Edison & Company, Inc. has a 1 year low of $27.85 and a 1 year high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.0975 per share. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.17 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Friday, April 12th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

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.