Mitsubishi UFJ Asset Management Co. Ltd. Buys 2,423 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 80,675 shares of the company’s stock after purchasing an additional 2,423 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Phillips Edison & Company, Inc. were worth $3,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at about $36,000. Allworth Financial LP lifted its stake in Phillips Edison & Company, Inc. by 94.6% in the 4th quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after purchasing an additional 788 shares during the last quarter. Blue Trust Inc. grew its holdings in Phillips Edison & Company, Inc. by 24.9% during the fourth quarter. Blue Trust Inc. now owns 3,023 shares of the company’s stock worth $113,000 after purchasing an additional 603 shares during the period. Eukles Asset Management acquired a new position in Phillips Edison & Company, Inc. during the fourth quarter worth approximately $156,000. Finally, KBC Group NV increased its position in Phillips Edison & Company, Inc. by 13.4% during the fourth quarter. KBC Group NV now owns 4,424 shares of the company’s stock worth $166,000 after buying an additional 522 shares during the last quarter. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Trading Up 1.0 %

Shares of PECO stock opened at $36.86 on Wednesday. The stock has a market cap of $4.61 billion, a P/E ratio of 73.72, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $40.12. The stock has a 50 day simple moving average of $36.12 and a 200 day simple moving average of $37.23.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. Analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 246.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Mizuho cut their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Wells Fargo & Company reduced their target price on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.83.

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.