Financial Partners Group Inc Makes New Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Financial Partners Group Inc purchased a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 31,652 shares of the company’s stock, valued at approximately $998,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its position in Phillips Edison & Company, Inc. by 6.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,776,609 shares of the company’s stock worth $91,739,000 after acquiring an additional 179,637 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $44,952,000. Janus Henderson Group PLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $36,119,000. BlackRock Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $36,084,000. Finally, Millennium Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at approximately $35,357,000. 36.58% of the stock is owned by hedge funds and other institutional investors.

PECO has been the topic of a number of research analyst reports. Compass Point initiated coverage on Phillips Edison & Company, Inc. in a research note on Friday, April 22nd. They issued a “neutral” rating and a $36.50 price target on the stock. Morgan Stanley cut Phillips Edison & Company, Inc. from an “overweight” rating to an “equal weight” rating and set a $37.00 price target on the stock. in a research note on Wednesday, March 9th. Zacks Investment Research upgraded Phillips Edison & Company, Inc. from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, February 2nd. Wells Fargo & Company increased their price target on Phillips Edison & Company, Inc. from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. Finally, Mizuho increased their price target on Phillips Edison & Company, Inc. from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, February 15th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $34.50.

Shares of PECO stock traded up $1.60 during mid-day trading on Friday, reaching $33.59. 2,464,899 shares of the stock traded hands, compared to its average volume of 822,870. The stock’s fifty day simple moving average is $34.07 and its two-hundred day simple moving average is $32.99. Phillips Edison & Company, Inc. has a 1-year low of $26.51 and a 1-year high of $36.35. The company has a market cap of $3.81 billion and a price-to-earnings ratio of 146.04.

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.41). Phillips Edison & Company, Inc. had a return on equity of 1.08% and a net margin of 4.61%. Equities research analysts expect that Phillips Edison & Company, Inc. will post 2.2 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 15th will be issued a $0.09 dividend. The ex-dividend date is Thursday, July 14th. This represents a $1.08 dividend on an annualized basis and a yield of 3.22%. Phillips Edison & Company, Inc.’s payout ratio is currently 469.57%.

Phillips Edison & Company, Inc. Company Profile (Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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