Allworth Financial LP Buys 33,299 Shares of Phillips Edison & Company, Inc. $PECO

Allworth Financial LP grew its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 391.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,809 shares of the company’s stock after purchasing an additional 33,299 shares during the period. Allworth Financial LP’s holdings in Phillips Edison & Company, Inc. were worth $1,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. bought a new stake in Phillips Edison & Company, Inc. during the 2nd quarter valued at approximately $28,000. Quarry LP lifted its stake in shares of Phillips Edison & Company, Inc. by 21,362.5% in the 1st quarter. Quarry LP now owns 1,717 shares of the company’s stock valued at $63,000 after purchasing an additional 1,709 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Phillips Edison & Company, Inc. by 20.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,995 shares of the company’s stock valued at $109,000 after purchasing an additional 515 shares in the last quarter. GAMMA Investing LLC grew its stake in Phillips Edison & Company, Inc. by 51.9% in the second quarter. GAMMA Investing LLC now owns 4,713 shares of the company’s stock worth $165,000 after purchasing an additional 1,611 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new position in Phillips Edison & Company, Inc. in the second quarter worth $179,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PECO shares. UBS Group assumed coverage on shares of Phillips Edison & Company, Inc. in a report on Friday, October 17th. They set a “neutral” rating and a $37.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, October 8th. LADENBURG THALM/SH SH started coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, September 9th. They issued a “buy” rating and a $40.00 price objective on the stock. Wall Street Zen raised shares of Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Mizuho dropped their price target on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and an average target price of $38.00.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $34.69 on Friday. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.12. The company has a market cap of $4.36 billion, a P/E ratio of 52.56, a PEG ratio of 1.50 and a beta of 0.53. The stock’s fifty day moving average price is $34.51 and its 200-day moving average price is $34.76.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, October 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.44). The company had revenue of $182.67 million for the quarter, compared to the consensus estimate of $177.19 million. Phillips Edison & Company, Inc. had a net margin of 11.51% and a return on equity of 3.14%. Phillips Edison & Company, Inc.’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. On average, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a $0.1083 dividend. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, February 17th. Phillips Edison & Company, Inc.’s payout ratio is 196.97%.

Phillips Edison & Company, Inc. Company 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.