California Public Employees Retirement System Raises Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

California Public Employees Retirement System grew its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 12.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 179,642 shares of the company’s stock after acquiring an additional 20,003 shares during the quarter. California Public Employees Retirement System’s holdings in Phillips Edison & Company, Inc. were worth $6,553,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Phillips Edison & Company, Inc. by 46.4% during the third quarter. Public Employees Retirement System of Ohio now owns 868 shares of the company’s stock worth $29,000 after purchasing an additional 275 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in shares of Phillips Edison & Company, Inc. by 207.4% in the 4th 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 during the period. Retirement Financial Solutions LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the fourth quarter valued at about $202,000. Realta Investment Advisors acquired a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $208,000. Finally, Canton Hathaway LLC raised its holdings in Phillips Edison & Company, Inc. by 150.4% during the fourth quarter. Canton Hathaway LLC now owns 6,274 shares of the company’s stock worth $229,000 after purchasing an additional 3,768 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PECO shares. Compass Point lowered their price objective on Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, April 29th. JPMorgan Chase & Co. decreased their price target on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft initiated coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 price objective for the company. Finally, Mizuho upgraded shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $37.00 in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.14.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $33.08 on Friday. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 71.91, a PEG ratio of 3.91 and a beta of 0.59. Phillips Edison & Company, Inc. has a one year low of $27.85 and a one year high of $37.92. The business’s fifty day moving average is $34.42 and its two-hundred day moving average is $34.98.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be paid a dividend of $0.0975 per share. This represents a $1.17 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

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.