Park Avenue Securities LLC Purchases New Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Park Avenue Securities LLC purchased a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,767 shares of the company’s stock, valued at approximately $210,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Phillips Edison & Company, Inc. by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 19,322,342 shares of the company’s stock worth $723,815,000 after acquiring an additional 82,913 shares during the period. Wellington Management Group LLP increased its holdings in Phillips Edison & Company, Inc. by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 7,537,917 shares of the company’s stock worth $282,370,000 after buying an additional 161,963 shares in the last quarter. FMR LLC increased its holdings in Phillips Edison & Company, Inc. by 14.6% in the 4th quarter. FMR LLC now owns 3,026,358 shares of the company’s stock worth $113,367,000 after buying an additional 385,983 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock valued at $80,371,000 after purchasing an additional 51,186 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Phillips Edison & Company, Inc. by 53.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company’s stock valued at $65,084,000 after purchasing an additional 606,055 shares during the period. 80.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho lowered their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Price Performance

Shares of PECO stock opened at $35.15 on Tuesday. Phillips Edison & Company, Inc. has a 1-year low of $31.75 and a 1-year high of $40.12. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 70.30, a PEG ratio of 1.70 and a beta of 0.56. The stock has a 50 day simple moving average of $35.37 and a 200-day simple moving average of $36.21.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. The firm had revenue of $178.31 million for the quarter, compared to the consensus estimate of $170.59 million. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 17th will be issued a $0.1025 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 3.5%. Phillips Edison & Company, Inc.’s payout ratio is currently 215.79%.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.