Envestnet Asset Management Inc. Trims Stock Position in Phillips Edison & Company, Inc. $PECO

Envestnet Asset Management Inc. trimmed its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 73.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 20,961 shares of the company’s stock after selling 57,186 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Assetmark Inc. bought a new position in Phillips Edison & Company, Inc. in the second quarter worth about $28,000. Jones Financial Companies Lllp raised its position in shares of Phillips Edison & Company, Inc. by 2,590.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,076 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 418.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,119 shares of the company’s stock valued at $38,000 after purchasing an additional 903 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Phillips Edison & Company, Inc. by 49.7% during the second quarter. EverSource Wealth Advisors LLC now owns 2,604 shares of the company’s stock valued at $91,000 after purchasing an additional 865 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Phillips Edison & Company, Inc. by 35.3% during the third quarter. Covestor Ltd now owns 2,850 shares of the company’s stock valued at $98,000 after purchasing an additional 744 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $39.40 on Thursday. The firm has a market cap of $4.96 billion, a PE ratio of 44.27, a P/E/G ratio of 1.01 and a beta of 0.51. The stock has a 50-day moving average price of $36.78 and a 200-day moving average price of $35.46. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.06.

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

Phillips Edison & Company, Inc. Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have commented on PECO shares. Evercore set a $42.00 price objective on Phillips Edison & Company, Inc. and gave the company an “outperform” rating in a research report on Friday, February 6th. UBS Group increased their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Morgan Stanley lifted their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Mizuho set a $39.00 price objective on shares of Phillips Edison & Company, Inc. in a research note on Friday, January 9th. Finally, Barclays cut their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and a consensus 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.