Creative Planning Purchases 3,371 Shares of Phillips Edison & Company, Inc. $PECO

Creative Planning increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,895 shares of the company’s stock after acquiring an additional 3,371 shares during the quarter. Creative Planning’s holdings in Phillips Edison & Company, Inc. were worth $1,958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Phillips Edison & Company, Inc. during the 1st quarter worth about $32,465,000. Alyeska Investment Group L.P. grew its position in shares of Phillips Edison & Company, Inc. by 42.1% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,013,308 shares of the company’s stock worth $73,466,000 after buying an additional 596,123 shares during the period. Millennium Management LLC raised its stake in shares of Phillips Edison & Company, Inc. by 129.2% during the first quarter. Millennium Management LLC now owns 855,138 shares of the company’s stock worth $31,204,000 after buying an additional 482,057 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Phillips Edison & Company, Inc. by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,720,204 shares of the company’s stock valued at $719,590,000 after buying an additional 397,862 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Phillips Edison & Company, Inc. by 54.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 915,000 shares of the company’s stock valued at $33,388,000 after buying an additional 324,139 shares during the period. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company began coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, October 21st. They set an “equal weight” rating and a $36.00 target price for the company. LADENBURG THALM/SH SH started coverage on Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They set a “buy” rating and a $40.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, October 8th. Barclays raised their target price on Phillips Edison & Company, Inc. from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 18th. Finally, UBS Group initiated coverage on Phillips Edison & Company, Inc. in a research note on Friday, October 17th. They issued a “neutral” rating and a $37.00 price target for the company. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.33.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $35.55 on Wednesday. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 53.86, a P/E/G ratio of 1.51 and a beta of 0.53. The business’s 50-day moving average price is $34.38 and its two-hundred day moving average price is $34.74. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.44). Phillips Edison & Company, Inc. had a return on equity of 3.14% and a net margin of 11.51%.The firm had revenue of $182.67 million for the quarter, compared to analyst estimates of $177.19 million. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. 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. Dividend Announcement

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