Swiss National Bank Cuts Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Swiss National Bank lessened its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,100 shares of the company’s stock after selling 1,400 shares during the period. Swiss National Bank’s holdings in Phillips Edison & Company, Inc. were worth $9,016,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. bought a new position in shares of Phillips Edison & Company, Inc. during the 2nd quarter valued at approximately $32,120,000. Cetera Investment Advisers increased its holdings 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 worth $41,971,000 after acquiring an additional 826,891 shares during the last quarter. Cetera Advisors LLC increased its holdings in Phillips Edison & Company, Inc. by 60.4% in the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after acquiring an additional 297,945 shares during the last quarter. Millennium Management LLC bought a new stake in Phillips Edison & Company, Inc. in the 2nd quarter valued at about $8,397,000. Finally, Dimensional Fund Advisors LP boosted its position in Phillips Edison & Company, Inc. by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after purchasing an additional 179,775 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PECO. Compass Point upped their price target 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. Mizuho raised their price target 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. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company raised 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $38.43.

Phillips Edison & Company, Inc. Stock Up 0.7 %

Shares of PECO stock opened at $39.33 on Monday. The business has a 50-day moving average price of $37.79 and a two-hundred day moving average price of $35.27. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $39.83. The firm has a market cap of $4.82 billion, a P/E ratio of 85.50, a price-to-earnings-growth ratio of 3.59 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted 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 return on equity of 2.22% and a net margin of 9.03%. The company had revenue of $165.50 million for the quarter, compared to the consensus estimate of $157.20 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. Phillips Edison & Company, Inc.’s revenue was up 8.5% compared to the same quarter last year. As a group, 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 company also recently announced 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. This represents a $1.23 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, February 18th. 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.