Phillips Edison & Company, Inc. $PECO Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 78,147 shares of the company’s stock after buying an additional 1,797 shares during the period. Envestnet Asset Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $2,737,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Phillips Edison & Company, Inc. in the 1st quarter valued at $32,465,000. Alyeska Investment Group L.P. grew its stake in Phillips Edison & Company, Inc. by 42.1% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,013,308 shares of the company’s stock valued at $73,466,000 after purchasing an additional 596,123 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Phillips Edison & Company, Inc. by 129.2% in the first quarter. Millennium Management LLC now owns 855,138 shares of the company’s stock valued at $31,204,000 after purchasing an additional 482,057 shares during the period. Vanguard Group Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,720,204 shares of the company’s stock worth $719,590,000 after purchasing an additional 397,862 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in Phillips Edison & Company, Inc. by 54.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 915,000 shares of the company’s stock valued at $33,388,000 after buying an additional 324,139 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PECO. Weiss Ratings reiterated a “hold (c+)” rating on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, October 8th. Wells Fargo & Company initiated coverage on Phillips Edison & Company, Inc. in a report on Tuesday, October 21st. They issued an “equal weight” rating and a $36.00 price target for the company. LADENBURG THALM/SH SH initiated coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, September 9th. They set a “buy” rating and a $40.00 target price on the stock. UBS Group began coverage on shares of Phillips Edison & Company, Inc. in a research report on Friday, October 17th. They issued a “neutral” rating and a $37.00 target price on the stock. Finally, Barclays boosted their price objective on Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.00.

Phillips Edison & Company, Inc. Stock Performance

NASDAQ:PECO opened at $34.65 on Monday. The stock has a 50 day moving average price of $34.48 and a 200 day moving average price of $34.76. The stock has a market cap of $4.36 billion, a PE ratio of 52.50, a P/E/G ratio of 1.49 and a beta of 0.53. Phillips Edison & Company, Inc. has a one year low of $32.40 and a one year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, October 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.44). Phillips Edison & Company, Inc. had a return on equity of 3.14% and a net margin of 11.51%.The company had revenue of $182.67 million during the quarter, compared to analyst estimates of $177.19 million. During the same period last year, the business earned $0.62 earnings per share. The firm’s revenue was up 10.4% compared to the same quarter last year. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Tuesday, February 17th will be given a $0.1083 dividend. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, February 17th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 196.97%.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.