Citigroup Inc. Sells 74,967 Shares of Phillips Edison & Company, Inc. $PECO

Citigroup Inc. cut its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 37.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 127,453 shares of the company’s stock after selling 74,967 shares during the period. Citigroup Inc.’s holdings in Phillips Edison & Company, Inc. were worth $4,375,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Phillips Edison & Company, Inc. by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,100,942 shares of the company’s stock valued at $37,795,000 after acquiring an additional 99,167 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in Phillips Edison & Company, Inc. by 14.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 62,949 shares of the company’s stock valued at $2,161,000 after purchasing an additional 7,781 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of Phillips Edison & Company, Inc. by 36.3% in the 3rd quarter. Metis Global Partners LLC now owns 28,273 shares of the company’s stock worth $971,000 after buying an additional 7,533 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 1,108.7% in the 3rd quarter. Assetmark Inc. now owns 9,597 shares of the company’s stock valued at $329,000 after acquiring an additional 8,803 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in Phillips Edison & Company, Inc. by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 489,959 shares of the company’s stock valued at $16,820,000 after purchasing an additional 62,477 shares during the period. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Down 0.7%

PECO opened at $39.40 on Thursday. The stock’s fifty day moving average is $36.78 and its two-hundred day moving average is $35.46. The company has a market capitalization of $4.96 billion, a P/E ratio of 44.27, a PEG ratio of 1.01 and a beta of 0.51. Phillips Edison & Company, Inc. has a 52 week low of $32.40 and a 52 week high of $40.06.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, February 5th. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.28). The firm had revenue of $187.86 million during the quarter, compared to analysts’ expectations of $183.18 million. Phillips Edison & Company, Inc. had a return on equity of 4.29% and a net margin of 15.32%.Phillips Edison & Company, Inc.’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. Phillips Edison & Company, Inc. has set its FY 2026 guidance at 0.740-0.770 EPS. Equities analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Friday, May 15th will be given a dividend of $0.1083 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 3.3%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 146.07%.

Analysts Set New Price Targets

PECO has been the subject of several analyst reports. Barclays lowered their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set an “equal weight” rating for the company in a report on Monday. Mizuho set a $39.00 price target on Phillips Edison & Company, Inc. in a report on Friday, January 9th. KeyCorp reissued a “sector weight” rating on shares of Phillips Edison & Company, Inc. in a research note on Thursday, December 18th. Weiss Ratings upgraded Phillips Edison & Company, Inc. from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Wall Street Zen upgraded Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.86.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company’s investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.

In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.