Meiji Yasuda Asset Management Co Ltd. Has $927,000 Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Rating) by 3.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 33,048 shares of the company’s stock after buying an additional 984 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Phillips Edison & Company, Inc. were worth $927,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PECO. Hexagon Capital Partners LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $27,000. Mach 1 Financial Group LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $27,000. Pinnacle Bancorp Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $31,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the third quarter valued at about $35,000. Finally, Ritter Daniher Financial Advisory LLC DE acquired a new stake in shares of Phillips Edison & Company, Inc. in the second quarter valued at about $44,000. 70.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PECO. Credit Suisse Group raised Phillips Edison & Company, Inc. from a “neutral” rating to an “outperform” rating in a research report on Monday, January 9th. Mizuho raised their price target on Phillips Edison & Company, Inc. from $33.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, March 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $34.00.

Phillips Edison & Company, Inc. Stock Up 1.1 %

PECO stock opened at $31.83 on Wednesday. Phillips Edison & Company, Inc. has a twelve month low of $27.07 and a twelve month high of $36.31. The company has a market cap of $3.73 billion, a PE ratio of 75.79, a price-to-earnings-growth ratio of 3.70 and a beta of 0.59. The business’s 50-day simple moving average is $33.22 and its 200 day simple moving average is $31.78.

Phillips Edison & Company, Inc. Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 15th will be given a dividend of $0.093 per share. This represents a $1.12 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Tuesday, March 14th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 266.67%.

Phillips Edison & Company, Inc. Company Profile

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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.