Oliver Lagore Vanvalin Investment Group Buys 5,803 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Oliver Lagore Vanvalin Investment Group boosted its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 30.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,041 shares of the company’s stock after purchasing an additional 5,803 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in Phillips Edison & Company, Inc. were worth $819,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PECO. Vanguard Group Inc. grew its position in Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after acquiring an additional 577,445 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Phillips Edison & Company, Inc. by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after buying an additional 179,775 shares during the period. Cetera Investment Advisers grew its holdings in Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after acquiring an additional 826,891 shares during the last quarter. Bank of New York Mellon Corp increased its position in Phillips Edison & Company, Inc. by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company’s stock valued at $36,186,000 after acquiring an additional 27,611 shares during the period. Finally, Cetera Advisors LLC raised its stake in shares of Phillips Edison & Company, Inc. by 60.4% during the first quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock valued at $28,378,000 after acquiring an additional 297,945 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $37.26 on Friday. The company has a market cap of $4.56 billion, a P/E ratio of 81.00, a PEG ratio of 3.65 and a beta of 0.57. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08. The stock has a 50 day simple moving average of $36.28 and a two-hundred day simple moving average of $34.24.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.48). The firm had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. On average, research analysts predict that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a $0.1025 dividend. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.23 annualized dividend and a yield of 3.30%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PECO. Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Compass Point upped their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $37.50.

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.