Bank of Montreal Can Sells 105,935 Shares of Phillips Edison & Company, Inc. $PECO

Bank of Montreal Can cut its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 82.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,011 shares of the company’s stock after selling 105,935 shares during the period. Bank of Montreal Can’s holdings in Phillips Edison & Company, Inc. were worth $806,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PECO. Assetmark Inc. purchased a new position in shares of Phillips Edison & Company, Inc. during the second quarter worth approximately $28,000. Arkadios Wealth Advisors grew its stake in Phillips Edison & Company, Inc. by 5.2% in the second quarter. Arkadios Wealth Advisors now owns 51,975 shares of the company’s stock worth $1,821,000 after purchasing an additional 2,582 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Phillips Edison & Company, Inc. by 54.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 55,966 shares of the company’s stock worth $1,960,000 after purchasing an additional 19,682 shares during the period. Y Intercept Hong Kong Ltd raised its position in Phillips Edison & Company, Inc. by 84.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 12,056 shares of the company’s stock valued at $422,000 after purchasing an additional 5,529 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Phillips Edison & Company, Inc. by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 78,147 shares of the company’s stock valued at $2,737,000 after purchasing an additional 1,797 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PECO has been the topic of a number of recent research reports. Wall Street Zen raised Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group started coverage on shares of Phillips Edison & Company, Inc. in a research report on Friday, October 17th. They set a “neutral” rating and a $37.00 target price on the stock. LADENBURG THALM/SH SH started coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, September 9th. They issued a “buy” rating and a $40.00 price target for the company. Wells Fargo & Company started coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, October 21st. They set an “equal weight” rating and a $36.00 price objective on the stock. Finally, Barclays boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.00.

Phillips Edison & Company, Inc. Stock Down 0.1%

Shares of Phillips Edison & Company, Inc. stock opened at $34.65 on Monday. The company has a market cap of $4.36 billion, a P/E ratio of 52.50, a PEG ratio of 1.49 and a beta of 0.53. The firm’s 50 day moving average price is $34.48 and its 200-day moving average price is $34.76. Phillips Edison & Company, Inc. has a 52-week low of $32.40 and a 52-week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly 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 firm had revenue of $182.67 million during the quarter, compared to analysts’ expectations of $177.19 million. Phillips Edison & Company, Inc. had a return on equity of 3.14% and a net margin of 11.51%.Phillips Edison & Company, Inc.’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. As a group, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be issued a $0.1083 dividend. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, February 17th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 196.97%.

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.