Zurcher Kantonalbank Zurich Cantonalbank Acquires 7,397 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 15.6% in the second quarter, Holdings Channel.com reports. The fund owned 54,723 shares of the company’s stock after acquiring an additional 7,397 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Phillips Edison & Company, Inc. were worth $1,790,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PECO. Norges Bank acquired a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at $48,562,000. Cetera Investment Advisers increased its position in Phillips Edison & Company, Inc. by 240.9% during the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after buying an additional 826,891 shares during the last quarter. GRS Advisors LLC bought a new position in Phillips Edison & Company, Inc. during the fourth quarter valued at about $26,042,000. Vanguard Group Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 3.1% in the first quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after buying an additional 577,445 shares during the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Phillips Edison & Company, Inc. by 60.4% in the first quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after buying an additional 297,945 shares during the last quarter. 80.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PECO. Mizuho boosted their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.33.

Phillips Edison & Company, Inc. Trading Up 0.6 %

Shares of Phillips Edison & Company, Inc. stock opened at $36.96 on Monday. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 80.35, a PEG ratio of 3.51 and a beta of 0.56. Phillips Edison & Company, Inc. has a 1 year low of $30.62 and a 1 year high of $37.92. The company’s fifty day simple moving average is $34.40 and its 200-day simple moving average is $33.85.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. The company had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. During the same quarter in the previous year, the business posted $0.59 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 4th. Investors of record on Thursday, August 15th will be paid a $0.097 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.15%. Phillips Edison & Company, Inc.’s payout ratio is 254.35%.

Phillips Edison & Company, Inc. Profile

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.