Duff & Phelps Investment Management Co. Raises Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Duff & Phelps Investment Management Co. raised its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 50.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,474,130 shares of the company’s stock after purchasing an additional 492,160 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Phillips Edison & Company, Inc. were worth $55,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 160.2% in the second quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after purchasing an additional 1,290 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Phillips Edison & Company, Inc. by 4.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 41,437 shares of the company’s stock valued at $1,359,000 after purchasing an additional 1,776 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at about $39,000. Atria Wealth Solutions Inc. grew its position in shares of Phillips Edison & Company, Inc. by 2.1% during the second quarter. Atria Wealth Solutions Inc. now owns 72,074 shares of the company’s stock worth $2,363,000 after buying an additional 1,474 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth approximately $26,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PECO. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Compass Point boosted their target price 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. Mizuho raised their price target on 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. Finally, Wolfe Research upgraded 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 research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.43.

Phillips Edison & Company, Inc. Trading Down 0.2 %

PECO stock opened at $39.27 on Monday. The company has a market capitalization of $4.81 billion, a P/E ratio of 85.37, a PEG ratio of 3.61 and a beta of 0.57. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The business has a 50 day simple moving average of $38.02 and a 200-day simple moving average of $35.75.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.52). The business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 EPS. 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 firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 267.39%.

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.