Mutual of America Capital Management LLC Has $3.28 Million Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Mutual of America Capital Management LLC raised its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 38.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,184 shares of the company’s stock after buying an additional 27,796 shares during the quarter. Mutual of America Capital Management LLC owned 0.08% of Phillips Edison & Company, Inc. worth $3,277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in Phillips Edison & Company, Inc. in the 4th quarter valued at about $48,562,000. Cetera Investment Advisers grew its position in Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after purchasing an additional 826,891 shares during the period. GRS Advisors LLC bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter valued at $26,042,000. Vanguard Group Inc. lifted its stake 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 valued at $693,619,000 after buying an additional 577,445 shares in the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 60.4% during the first quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock valued at $28,378,000 after buying an additional 297,945 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PECO shares. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft reduced their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Mizuho upped their price objective 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, Compass Point boosted 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, September 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Trading Up 0.2 %

Phillips Edison & Company, Inc. stock opened at $38.44 on Tuesday. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $39.08. The firm has a market capitalization of $4.71 billion, a PE ratio of 83.57, a price-to-earnings-growth ratio of 3.69 and a beta of 0.57. The firm’s 50 day simple moving average is $36.06 and its 200 day simple moving average is $34.17.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly 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). The firm had revenue of $161.52 million during the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. During the same period in the previous year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share 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. Investors of record on Tuesday, October 15th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.20%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is 267.40%.

Phillips Edison & Company, Inc. Company 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.