Envestnet Asset Management Inc. Buys 1,797 Shares of Phillips Edison & Company, Inc. $PECO

Envestnet Asset Management Inc. increased its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,147 shares of the company’s stock after buying an additional 1,797 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Phillips Edison & Company, Inc. worth $2,737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the second quarter valued at $279,000. State of New Jersey Common Pension Fund D grew its holdings in Phillips Edison & Company, Inc. by 1.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 55,168 shares of the company’s stock valued at $1,933,000 after purchasing an additional 644 shares during the last quarter. AlphaQuest LLC raised its position in Phillips Edison & Company, Inc. by 20.8% in the 2nd quarter. AlphaQuest LLC now owns 18,791 shares of the company’s stock worth $658,000 after purchasing an additional 3,239 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Phillips Edison & Company, Inc. by 1.3% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 137,505 shares of the company’s stock worth $4,817,000 after purchasing an additional 1,776 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Phillips Edison & Company, Inc. during the second quarter valued at approximately $1,334,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $34.65 on Monday. The firm has a 50-day simple moving average of $34.48 and a 200-day simple moving average of $34.76. Phillips Edison & Company, Inc. has a one year low of $32.40 and a one year high of $40.12. The firm has a market cap of $4.36 billion, a P/E ratio of 52.50, a P/E/G ratio of 1.49 and a beta of 0.53.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, October 23rd. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.44). The business had revenue of $182.67 million during the quarter, compared to the consensus estimate of $177.19 million. Phillips Edison & Company, Inc. had a return on equity of 3.14% and a net margin of 11.51%.The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. On average, research analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal 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 paid a $0.1083 dividend. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, February 17th. Phillips Edison & Company, Inc.’s payout ratio is 196.97%.

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.