Pictet Asset Management SA Invests $1.53 Million in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Pictet Asset Management SA acquired a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 45,787 shares of the company’s stock, valued at approximately $1,530,000.

A number of other institutional investors also recently made changes to their positions in PECO. Truist Financial Corp bought a new stake in shares of Phillips Edison & Company, Inc. during the first quarter worth approximately $646,000. Signaturefd LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the first quarter worth approximately $62,000. CENTRAL TRUST Co acquired a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at approximately $59,000. Ausdal Financial Partners Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at approximately $1,691,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. in the first quarter valued at approximately $1,988,000. Institutional investors own 72.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Phillips Edison & Company, Inc. from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Monday, August 29th. Mizuho dropped their price target on shares of Phillips Edison & Company, Inc. from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, November 11th. Finally, Credit Suisse Group dropped their price target on shares of Phillips Edison & Company, Inc. to $32.00 in a research report on Friday, November 4th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.20.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $31.96 on Wednesday. The stock’s fifty day moving average price is $29.79 and its two-hundred day moving average price is $32.24. The company has a market cap of $3.74 billion, a PE ratio of 127.84, a P/E/G ratio of 2.12 and a beta of 0.58. Phillips Edison & Company, Inc. has a fifty-two week low of $27.07 and a fifty-two week high of $36.35.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.0933 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, November 14th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 448.00%.

Phillips Edison & Company, Inc. Company Profile

(Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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