State Street Corp Buys 18,429 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

State Street Corp increased its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,068,684 shares of the company’s stock after purchasing an additional 18,429 shares during the quarter. State Street Corp owned 0.06% of Phillips Edison & Company, Inc. worth $267,289,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. increased its position in shares of Phillips Edison & Company, Inc. by 15.5% during the 3rd quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock valued at $91,000 after purchasing an additional 325 shares during the last quarter. Xponance Inc. increased its position in shares of Phillips Edison & Company, Inc. by 6.3% during the 2nd quarter. Xponance Inc. now owns 7,789 shares of the company’s stock valued at $255,000 after purchasing an additional 465 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Phillips Edison & Company, Inc. by 6.5% during the 3rd quarter. Private Advisor Group LLC now owns 8,009 shares of the company’s stock valued at $302,000 after purchasing an additional 487 shares during the last quarter. Calton & Associates Inc. increased its position in shares of Phillips Edison & Company, Inc. by 1.8% during the 3rd 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 last quarter. Finally, KBC Group NV increased its position in shares of Phillips Edison & Company, Inc. by 21.9% during the 3rd 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. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Trading Down 0.5 %

Shares of PECO stock opened at $39.02 on Wednesday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 84.83, a P/E/G ratio of 3.61 and a beta of 0.57. The stock has a fifty day simple moving average of $38.08 and a two-hundred day simple moving average of $35.86.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share 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 firm had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. Phillips Edison & Company, Inc.’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio is 267.39%.

Analyst Ratings Changes

PECO has been the subject of a number of recent analyst reports. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Wednesday, November 13th. Compass Point boosted their price objective on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Mizuho boosted their price objective on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $34.00 to $37.00 in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.14.

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.