PNC Financial Services Group Inc. Acquires 515 Shares of Phillips Edison & Company, Inc. $PECO

PNC Financial Services Group Inc. boosted its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 20.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,995 shares of the company’s stock after buying an additional 515 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $109,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in Phillips Edison & Company, Inc. by 78.1% during the first quarter. Fifth Third Bancorp now owns 732 shares of the company’s stock worth $27,000 after buying an additional 321 shares during the period. CX Institutional purchased a new position in Phillips Edison & Company, Inc. during the first quarter worth $30,000. MassMutual Private Wealth & Trust FSB boosted its stake in Phillips Edison & Company, Inc. by 79.4% during 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 period. State of Wyoming purchased a new position in Phillips Edison & Company, Inc. during the fourth quarter worth $54,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Phillips Edison & Company, Inc. during the fourth quarter worth $68,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PECO has been the subject of several recent analyst reports. Barclays initiated coverage on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, July 2nd. They set an “equal weight” rating and a $37.00 price objective for the company. Wall Street Zen lowered shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Mizuho cut their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $38.50.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $34.13 on Wednesday. Phillips Edison & Company, Inc. has a 1-year low of $32.40 and a 1-year high of $40.12. The company has a 50-day moving average of $34.62 and a 200 day moving average of $35.29. The firm has a market cap of $4.29 billion, a PE ratio of 62.05, a price-to-earnings-growth ratio of 1.15 and a beta of 0.54.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The company had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. During the same period in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. Sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Friday, August 15th will be paid a $0.1025 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 3.6%. Phillips Edison & Company, Inc.’s dividend payout ratio is 223.64%.

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.