World Equity Group Inc. Invests $224,000 in Phillips Edison & Company, Inc. (NASDAQ:PECO)

by · The Markets Daily

World Equity Group Inc. bought a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,936 shares of the company’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Phillips Edison & Company, Inc. by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after purchasing an additional 577,445 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Phillips Edison & Company, Inc. by 16.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock worth $40,911,000 after acquiring an additional 179,775 shares during the period. Cetera Investment Advisers lifted its position in Phillips Edison & Company, Inc. by 240.9% during the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after acquiring an additional 826,891 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Phillips Edison & Company, Inc. by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 1,106,277 shares of the company’s stock worth $36,186,000 after purchasing an additional 27,611 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new stake in shares of Phillips Edison & Company, Inc. during the second quarter worth about $32,120,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PECO shares. Compass Point raised their target price on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Mizuho lifted their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.50.

Check Out Our Latest Stock Report on PECO

Phillips Edison & Company, Inc. Stock Up 0.7 %

NASDAQ:PECO opened at $38.08 on Tuesday. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 82.78, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $39.08. The company has a fifty day simple moving average of $37.30 and a two-hundred day simple moving average of $34.67.

Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The firm had revenue of $165.50 million during the quarter, compared to analysts’ expectations of $157.20 million. During the same period in the prior year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts expect that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 3.23%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Phillips Edison & Company, Inc. Profile

(Free Report)

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.

Further Reading

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