Mirae Asset Global Investments Co. Ltd. Increases Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,862 shares of the company’s stock after buying an additional 306 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Phillips Edison & Company, Inc. were worth $2,074,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PECO. Raymond James & Associates purchased a new position in shares of Phillips Edison & Company, Inc. during the first quarter valued at $935,000. Bank of New York Mellon Corp increased its stake in shares of Phillips Edison & Company, Inc. by 395.2% during the first quarter. Bank of New York Mellon Corp now owns 464,380 shares of the company’s stock valued at $15,970,000 after buying an additional 370,609 shares during the period. HighTower Advisors LLC increased its stake in shares of Phillips Edison & Company, Inc. by 113.0% during the first quarter. HighTower Advisors LLC now owns 21,301 shares of the company’s stock valued at $733,000 after buying an additional 11,301 shares during the period. Citigroup Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 7.6% during the first quarter. Citigroup Inc. now owns 53,264 shares of the company’s stock valued at $1,832,000 after buying an additional 3,775 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Phillips Edison & Company, Inc. during the first quarter valued at $99,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ PECO opened at $33.02 on Friday. The company has a market cap of $4.04 billion, a PE ratio of 71.78, a P/E/G ratio of 3.61 and a beta of 0.55. The business has a 50-day simple moving average of $34.76 and a two-hundred day simple moving average of $35.03. Phillips Edison & Company, Inc. has a fifty-two week low of $27.85 and a fifty-two week high of $37.92.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be issued a $0.0975 dividend. This represents a $1.17 annualized dividend and a yield of 3.54%. The ex-dividend date is Friday, April 12th. This is an increase from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 254.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PECO shares. JPMorgan Chase & Co. dropped their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Mizuho raised Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and raised their price objective for the company from $35.00 to $37.00 in a research report on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They set a “buy” rating and a $41.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and an average price target of $38.14.

Phillips Edison & Company, Inc. Company Profile

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.