Arizona State Retirement System Has $1.12 Million Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Arizona State Retirement System increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,224 shares of the company’s stock after acquiring an additional 1,355 shares during the quarter. Arizona State Retirement System’s holdings in Phillips Edison & Company, Inc. were worth $1,119,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Illinois Municipal Retirement Fund raised its stake in Phillips Edison & Company, Inc. by 0.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company’s stock valued at $2,423,000 after purchasing an additional 372 shares during the period. Maryland State Retirement & Pension System raised its position in Phillips Edison & Company, Inc. by 1.2% during the first quarter. Maryland State Retirement & Pension System now owns 43,970 shares of the company’s stock valued at $1,577,000 after buying an additional 502 shares during the period. Accel Wealth Management raised its position in Phillips Edison & Company, Inc. by 2.3% during the first quarter. Accel Wealth Management now owns 31,142 shares of the company’s stock valued at $1,117,000 after buying an additional 686 shares during the period. American International Group Inc. lifted its stake in Phillips Edison & Company, Inc. by 1.1% in the 1st quarter. American International Group Inc. now owns 65,003 shares of the company’s stock worth $2,332,000 after acquiring an additional 699 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in Phillips Edison & Company, Inc. by 4.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 18,081 shares of the company’s stock worth $608,000 after acquiring an additional 699 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Up 1.5 %

NASDAQ PECO opened at $38.93 on Friday. The stock has a market capitalization of $4.77 billion, a PE ratio of 84.63, a price-to-earnings-growth ratio of 3.55 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.00. The company has a 50 day moving average price of $35.39 and a two-hundred day moving average price of $34.06.

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

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.1025 per share. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.16%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 254.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Mizuho upped their price objective on shares of 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. Compass Point lifted their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.50.

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.