Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas boosted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 11.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,284 shares of the company’s stock after buying an additional 3,841 shares during the period. Teacher Retirement System of Texas’ holdings in Phillips Edison & Company, Inc. were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PECO. Fifth Third Bancorp grew its stake in Phillips Edison & Company, Inc. by 78.1% during the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company’s stock valued at $27,000 after purchasing an additional 321 shares during the last quarter. FIL Ltd boosted its stake in shares of Phillips Edison & Company, Inc. by 17.8% in 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 last quarter. State of Alaska Department of Revenue boosted its stake in shares of Phillips Edison & Company, Inc. by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 128,895 shares of the company’s stock worth $4,701,000 after buying an additional 430 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Phillips Edison & Company, Inc. by 79.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,360 shares of the company’s stock worth $50,000 after buying an additional 602 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its stake in shares of Phillips Edison & Company, Inc. by 4.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,856 shares of the company’s stock worth $557,000 after buying an additional 624 shares during the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company lowered 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 note on Wednesday, March 26th. Barclays assumed coverage on Phillips Edison & Company, Inc. in a report on Wednesday, July 2nd. They issued an “equal weight” rating and a $37.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.67.

Phillips Edison & Company, Inc. Trading Up 0.1%

NASDAQ PECO opened at $34.59 on Friday. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 60.69, a PEG ratio of 1.22 and a beta of 0.55. Phillips Edison & Company, Inc. has a twelve month low of $32.40 and a twelve month high of $40.12. The stock has a 50-day moving average of $35.27 and a 200 day moving average of $35.73.

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

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.1025 per share. The ex-dividend date was 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.