abrdn plc Buys 78,581 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

abrdn plc raised its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 313.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,674 shares of the company’s stock after buying an additional 78,581 shares during the period. abrdn plc owned about 0.09% of Phillips Edison & Company, Inc. worth $3,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. ClariVest Asset Management LLC increased its position in Phillips Edison & Company, Inc. by 73,077.5% during the third quarter. ClariVest Asset Management LLC now owns 29,271 shares of the company’s stock valued at $981,000 after acquiring an additional 29,231 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 36.9% in the 3rd quarter. LPL Financial LLC now owns 348,035 shares of the company’s stock worth $11,673,000 after purchasing an additional 93,719 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of Phillips Edison & Company, Inc. by 54.2% in the third quarter. Mutual of America Capital Management LLC now owns 78,593 shares of the company’s stock worth $2,636,000 after buying an additional 27,641 shares during the last quarter. FMR LLC grew its position in shares of Phillips Edison & Company, Inc. by 4.0% during the 3rd quarter. FMR LLC now owns 4,874,206 shares of the company’s stock valued at $163,481,000 after acquiring an additional 186,651 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Phillips Edison & Company, Inc. by 7.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 294,243 shares of the company’s stock worth $10,905,000 after purchasing an additional 21,481 shares in the last quarter. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Stock Performance

PECO opened at $32.61 on Monday. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of 70.89, a PEG ratio of 3.69 and a beta of 0.55. The company has a fifty day moving average of $34.60 and a 200 day moving average of $35.04. Phillips Edison & Company, Inc. has a fifty-two week low of $27.85 and a fifty-two week high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.0975 per share. This is a positive change from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Friday, April 12th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.59%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 254.35%.

Analyst Ratings Changes

PECO has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 target price for the company. Finally, Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $37.00 in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus target price of $38.14.

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.