CX Institutional Takes $30,000 Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

CX Institutional acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 833 shares of the company’s stock, valued at approximately $30,000.

Several other hedge funds also recently added to or reduced their stakes in PECO. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Phillips Edison & Company, Inc. by 79.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company’s stock valued at $50,000 after purchasing an additional 602 shares during the last quarter. State of Wyoming purchased a new stake in Phillips Edison & Company, Inc. in the 4th quarter valued at about $54,000. Allworth Financial LP lifted its position in Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after buying an additional 788 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in Phillips Edison & Company, Inc. during the fourth quarter worth about $68,000. Finally, FIL Ltd boosted its stake in Phillips Edison & Company, Inc. by 17.8% during the fourth quarter. FIL Ltd now owns 2,155 shares of the company’s stock worth $81,000 after buying an additional 325 shares during the period. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $35.08 on Wednesday. The firm has a market capitalization of $4.40 billion, a PE ratio of 61.54, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. The firm’s 50-day moving average is $35.38 and its two-hundred day moving average is $36.20. Phillips Edison & Company, Inc. has a 1 year low of $31.79 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. The firm had revenue of $178.31 million during the quarter, compared to analysts’ expectations of $170.59 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be issued a $0.1025 dividend. The ex-dividend date is Monday, June 16th. This represents a yield of 3.5%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 215.79%.

Analyst Upgrades and Downgrades

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

About Phillips Edison & Company, Inc.

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.