abrdn plc Buys 3,024 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

abrdn plc increased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,331 shares of the company’s stock after purchasing an additional 3,024 shares during the quarter. abrdn plc’s holdings in Phillips Edison & Company, Inc. were worth $4,010,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Diversify Advisory Services LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the 1st quarter worth approximately $296,000. Fidelis Capital Partners LLC bought a new stake in Phillips Edison & Company, Inc. during the first quarter worth $114,000. Daiwa Securities Group Inc. boosted its holdings in shares of Phillips Edison & Company, Inc. by 9.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 39,557 shares of the company’s stock valued at $1,419,000 after purchasing an additional 3,471 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Phillips Edison & Company, Inc. by 3.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 106,794 shares of the company’s stock valued at $3,831,000 after purchasing an additional 3,490 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Phillips Edison & Company, Inc. by 120.2% during the 1st quarter. Quantbot Technologies LP now owns 21,804 shares of the company’s stock worth $782,000 after buying an additional 11,902 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Phillips Edison & Company, Inc. Trading Down 0.0 %

Shares of PECO stock opened at $37.80 on Monday. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 82.17, a PEG ratio of 3.47 and a beta of 0.57. The business’s 50-day moving average price is $37.27 and its 200-day moving average price is $34.61. Phillips Edison & Company, Inc. has a 12 month low of $30.62 and a 12 month high of $39.08.

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

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be paid a $0.1025 dividend. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Monday, December 16th. This represents a $1.23 annualized dividend and a dividend yield of 3.25%. Phillips Edison & Company, Inc.’s payout ratio is currently 267.39%.

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.