Phillips Edison & Company, Inc. (NASDAQ:PECO) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,108,716 shares of the company’s stock after buying an additional 56,897 shares during the period. Massachusetts Financial Services Co. MA owned about 0.90% of Phillips Edison & Company, Inc. worth $41,810,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Coppell Advisory Solutions Corp. acquired a new stake in Phillips Edison & Company, Inc. during the 1st quarter worth $607,000. Harbor Capital Advisors Inc. increased its position in Phillips Edison & Company, Inc. by 67.1% during the second quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock worth $2,541,000 after buying an additional 31,189 shares during the period. Cetera Investment Advisers lifted its stake in Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after buying an additional 826,891 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Phillips Edison & Company, Inc. during the second quarter worth approximately $2,944,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at $2,695,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Mizuho increased their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Wolfe Research raised Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Wednesday, November 13th. Finally, Compass Point increased their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and a consensus target price of $38.43.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $39.33 on Monday. The stock’s 50 day simple moving average is $37.79 and its 200 day simple moving average is $35.27. The stock has a market cap of $4.82 billion, a P/E ratio of 85.50, a P/E/G ratio of 3.59 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period last year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Research analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.13%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

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.