Phillips Edison & Company, Inc. (NASDAQ:PECO) Stake Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 34.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,751 shares of the company’s stock after buying an additional 1,230 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Phillips Edison & Company, Inc. were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PECO. Duff & Phelps Investment Management Co. acquired a new position in shares of Phillips Edison & Company, Inc. in the 2nd quarter valued at about $32,120,000. Cetera Investment Advisers increased its stake 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 buying an additional 826,891 shares during the period. Vanguard Group Inc. lifted its position in Phillips Edison & Company, Inc. by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after buying an additional 577,445 shares in the last quarter. Cetera Advisors LLC lifted its position 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 buying an additional 297,945 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the 2nd quarter valued at $8,397,000. 80.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PECO. Compass Point increased their price objective 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. Wells Fargo & Company raised Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Finally, Mizuho boosted their price target 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $37.80 on Monday. The company has a market cap of $4.63 billion, a PE ratio of 82.17, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. The stock has a 50-day moving average of $37.27 and a 200-day moving average of $34.61. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be paid a $0.1025 dividend. The ex-dividend date is Monday, December 16th. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. This represents a $1.23 dividend on an annualized basis and a yield of 3.25%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 267.39%.

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.