Beck Capital Management LLC Buys Shares of 10,767 Phillips Edison & Company, Inc. (NASDAQ:PECO)

Beck Capital Management LLC bought a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the third quarter, HoldingsChannel reports. The firm bought 10,767 shares of the company’s stock, valued at approximately $406,000.

Several other institutional investors and hedge funds also recently modified their holdings of PECO. Blue Trust Inc. grew its stake in Phillips Edison & Company, Inc. by 15.5% in the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after acquiring an additional 325 shares during the period. Xponance Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 6.3% during the second quarter. Xponance Inc. now owns 7,789 shares of the company’s stock worth $255,000 after purchasing an additional 465 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 6.5% during the third quarter. Private Advisor Group LLC now owns 8,009 shares of the company’s stock worth $302,000 after purchasing an additional 487 shares during the last quarter. Calton & Associates Inc. grew its position in shares of Phillips Edison & Company, Inc. by 1.8% in the third quarter. Calton & Associates Inc. now owns 37,233 shares of the company’s stock valued at $1,404,000 after purchasing an additional 641 shares during the period. Finally, KBC Group NV increased its stake in Phillips Edison & Company, Inc. by 21.9% in the third quarter. KBC Group NV now owns 3,902 shares of the company’s stock valued at $147,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $39.50 on Monday. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The firm has a 50 day moving average price of $37.89 and a 200 day moving average price of $35.49. The company has a market cap of $4.84 billion, a PE ratio of 85.87, a price-to-earnings-growth ratio of 3.63 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business had revenue of $165.50 million during the quarter, compared to analyst estimates of $157.20 million. During the same period in the previous year, the company earned $0.58 EPS. Phillips Edison & Company, Inc.’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a report on Wednesday, November 13th. Compass Point increased their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 10th. Finally, Mizuho boosted their price objective on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $38.43.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.