California Public Employees Retirement System Grows Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

California Public Employees Retirement System lifted its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,642 shares of the company’s stock after purchasing an additional 20,003 shares during the quarter. California Public Employees Retirement System owned 0.15% of Phillips Edison & Company, Inc. worth $6,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in Phillips Edison & Company, Inc. by 1.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,207,617 shares of the company’s stock valued at $174,663,000 after acquiring an additional 99,383 shares in the last quarter. FMR LLC lifted its holdings in shares of Phillips Edison & Company, Inc. by 4.0% during the third quarter. FMR LLC now owns 4,874,206 shares of the company’s stock valued at $163,481,000 after purchasing an additional 186,651 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Phillips Edison & Company, Inc. by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,727,398 shares of the company’s stock valued at $57,937,000 after buying an additional 107,214 shares during the last quarter. Northern Trust Corp increased its holdings in Phillips Edison & Company, Inc. by 1.5% in the 3rd quarter. Northern Trust Corp now owns 1,376,392 shares of the company’s stock worth $46,164,000 after buying an additional 20,461 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Phillips Edison & Company, Inc. by 2.4% in the 3rd quarter. Rhumbline Advisers now owns 397,515 shares of the company’s stock worth $13,333,000 after buying an additional 9,457 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PECO. Mizuho raised shares of Phillips Edison & Company, Inc. from a “neutral” rating to a “buy” rating and raised their price target for the company from $35.00 to $37.00 in a report on Friday, February 23rd. Compass Point cut their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. decreased their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Phillips Edison & Company, Inc. in a research report on Tuesday, January 30th. They issued a “buy” rating and a $41.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.14.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ:PECO opened at $33.08 on Friday. The company has a market capitalization of $4.04 billion, a P/E ratio of 71.91, a P/E/G ratio of 3.91 and a beta of 0.59. Phillips Edison & Company, Inc. has a 1-year low of $27.85 and a 1-year high of $37.92. The firm’s 50 day simple moving average is $34.42 and its two-hundred day simple moving average is $34.98.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be paid a dividend of $0.0975 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Monday, July 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 254.35%.

Phillips Edison & Company, Inc. 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.