abrdn plc Increases Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

abrdn plc raised its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 313.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 103,674 shares of the company’s stock after acquiring an additional 78,581 shares during the quarter. abrdn plc’s holdings in Phillips Edison & Company, Inc. were worth $3,782,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Phillips Edison & Company, Inc. by 46.4% in the third quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock valued at $29,000 after purchasing an additional 275 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Phillips Edison & Company, Inc. by 207.4% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,543 shares of the company’s stock worth $56,000 after acquiring an additional 1,041 shares in the last quarter. Legacy Financial Group LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the third quarter worth $64,000. Retirement Financial Solutions LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth $202,000. Finally, Realta Investment Advisors acquired a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at $208,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $32.61 on Monday. Phillips Edison & Company, Inc. has a one year low of $27.85 and a one year high of $37.92. The stock has a market capitalization of $3.98 billion, a P/E ratio of 70.89, a price-to-earnings-growth ratio of 3.69 and a beta of 0.55. The business’s 50-day simple moving average is $34.60 and its 200-day simple moving average is $35.04.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a dividend of $0.0975 per share. This represents a $1.17 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, April 12th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 254.35%.

Wall Street Analysts Forecast Growth

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

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.