Maryland State Retirement & Pension System Buys 502 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Maryland State Retirement & Pension System lifted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,970 shares of the company’s stock after buying an additional 502 shares during the period. Maryland State Retirement & Pension System’s holdings in Phillips Edison & Company, Inc. were worth $1,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NBC Securities Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 11.6% during the fourth quarter. NBC Securities Inc. now owns 9,670 shares of the company’s stock worth $352,000 after acquiring an additional 1,003 shares during the period. GRS Advisors LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $26,042,000. Vanguard Group Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company’s stock valued at $684,350,000 after purchasing an additional 266,832 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,872,476 shares of the company’s stock valued at $68,308,000 after purchasing an additional 145,078 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $189,000. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Price Performance

PECO stock traded down $0.08 during midday trading on Friday, reaching $32.70. 35,813 shares of the company were exchanged, compared to its average volume of 644,444. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $37.92. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 71.26, a price-to-earnings-growth ratio of 3.32 and a beta of 0.56. The business has a 50-day moving average price of $32.25 and a two-hundred day moving average price of $34.14.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 15th will be given a dividend of $0.0975 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.17 annualized dividend and a yield of 3.58%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PECO shares. Wells Fargo & Company cut their target price on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 28th. Compass Point cut their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, May 29th. Finally, Mizuho lowered their target price on Phillips Edison & Company, Inc. from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus target price of $37.43.

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.