M&T Bank Corp Raises Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

M&T Bank Corp increased its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,883 shares of the company’s stock after acquiring an additional 307 shares during the quarter. M&T Bank Corp’s holdings in Phillips Edison & Company, Inc. were worth $410,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. bought a new position in Phillips Edison & Company, Inc. in the 2nd quarter worth about $32,120,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 408.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company’s stock valued at $28,879,000 after purchasing an additional 615,076 shares during the period. Millennium Management LLC bought a new position in Phillips Edison & Company, Inc. in the second quarter worth approximately $8,397,000. Dimensional Fund Advisors LP increased its holdings in Phillips Edison & Company, Inc. by 16.8% during the 2nd 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. Finally, Jacobs Levy Equity Management Inc. raised its position in Phillips Edison & Company, Inc. by 578.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company’s stock valued at $5,247,000 after purchasing an additional 118,640 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $34.00 to $37.00 in a research report on Wednesday, August 28th. Wolfe Research raised shares of 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 research report on Wednesday, November 13th. Compass Point upped their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 10th. Finally, Mizuho lifted their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the company an “outperform” rating in a report on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $38.21 on Thursday. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $40.12. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of 83.07, a PEG ratio of 3.60 and a beta of 0.57. The firm has a 50-day simple moving average of $38.39 and a two-hundred day simple moving average of $36.15.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $165.50 million for the quarter, compared to analysts’ expectations of $157.20 million. During the same period in the previous year, the company earned $0.58 EPS. The company’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a dividend yield of 3.13%. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio is 267.39%.

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.