Strs Ohio Invests $839,000 in Phillips Edison & Company, Inc. $PECO

Strs Ohio acquired a new stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 23,000 shares of the company’s stock, valued at approximately $839,000.

Several other hedge funds have also added to or reduced their stakes in PECO. Townsquare Capital LLC grew its stake in Phillips Edison & Company, Inc. by 3.6% in the first quarter. Townsquare Capital LLC now owns 8,610 shares of the company’s stock valued at $314,000 after acquiring an additional 303 shares during the period. Fifth Third Bancorp grew its position in shares of Phillips Edison & Company, Inc. by 78.1% in 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 period. Norinchukin Bank The grew its position in shares of Phillips Edison & Company, Inc. by 6.9% in the 1st quarter. Norinchukin Bank The now owns 5,785 shares of the company’s stock valued at $211,000 after purchasing an additional 372 shares during the period. State of Alaska Department of Revenue increased its stake in Phillips Edison & Company, Inc. by 0.3% during the 1st quarter. State of Alaska Department of Revenue now owns 128,895 shares of the company’s stock worth $4,701,000 after purchasing an additional 430 shares in the last quarter. Finally, Xponance Inc. raised its holdings in Phillips Edison & Company, Inc. by 5.3% during the 1st quarter. Xponance Inc. now owns 9,276 shares of the company’s stock worth $338,000 after buying an additional 467 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PECO shares. Barclays lowered their price objective on shares of 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, August 27th. Mizuho lowered their target price on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. LADENBURG THALM/SH SH initiated coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Wall Street Zen cut Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. has an average rating of “Moderate Buy” and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Stock Down 1.1%

Shares of Phillips Edison & Company, Inc. stock opened at $35.10 on Friday. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 63.82, a price-to-earnings-growth ratio of 1.21 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 company has a 50-day simple moving average of $34.66 and a two-hundred day simple moving average of $35.09.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) 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 firm had revenue of $173.47 million for the quarter, compared to analyst estimates of $174.38 million. During the same quarter in the prior year, the business posted $0.59 EPS. The business’s revenue 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. On average, sell-side 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 business also recently disclosed a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be issued a $0.1083 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) annualized dividend and a yield of 3.7%. Phillips Edison & Company, Inc.’s payout ratio is currently 236.36%.

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.