Sumitomo Mitsui DS Asset Management Company Ltd Has $739,000 Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 14.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,600 shares of the company’s stock after purchasing an additional 2,857 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Phillips Edison & Company, Inc. were worth $739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PECO. 1620 Investment Advisors Inc. bought a new position in shares of Phillips Edison & Company, Inc. in the second quarter worth about $26,000. Creekmur Asset Management LLC bought a new position in Phillips Edison & Company, Inc. in the 4th quarter worth approximately $32,000. Hobbs Group Advisors LLC acquired a new position in Phillips Edison & Company, Inc. during the 2nd quarter worth $39,000. Quadrant Capital Group LLC boosted its position in Phillips Edison & Company, Inc. by 197.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,190 shares of the company’s stock valued at $43,000 after buying an additional 790 shares during the last quarter. Finally, PFG Private Wealth Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at $62,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PECO has been the subject of a number of research reports. Mizuho lifted their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.33.

Phillips Edison & Company, Inc. Trading Up 0.6 %

Phillips Edison & Company, Inc. stock opened at $36.96 on Monday. The firm has a market capitalization of $4.52 billion, a P/E ratio of 80.35, a PEG ratio of 3.51 and a beta of 0.56. The business has a 50-day moving average of $34.40 and a 200-day moving average of $33.85. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $37.92.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $156.29 million. During the same quarter in the prior year, the firm posted $0.59 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be given a $0.097 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, August 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

About Phillips Edison & Company, Inc.

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.