Harbour Investments Inc. Decreases Stake in Phillips Edison & Company, Inc. $PECO

Harbour Investments Inc. lowered its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,430 shares of the company’s stock after selling 771 shares during the period. Harbour Investments Inc.’s holdings in Phillips Edison & Company, Inc. were worth $716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PECO. Nuveen LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the first quarter worth $32,465,000. Alyeska Investment Group L.P. increased its stake in shares of Phillips Edison & Company, Inc. by 42.1% in the first quarter. Alyeska Investment Group L.P. now owns 2,013,308 shares of the company’s stock worth $73,466,000 after acquiring an additional 596,123 shares during the period. Millennium Management LLC increased its stake in shares of Phillips Edison & Company, Inc. by 129.2% in the first quarter. Millennium Management LLC now owns 855,138 shares of the company’s stock worth $31,204,000 after acquiring an additional 482,057 shares during the period. Vanguard Group Inc. increased its stake in shares of Phillips Edison & Company, Inc. by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,720,204 shares of the company’s stock worth $719,590,000 after acquiring an additional 397,862 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Phillips Edison & Company, Inc. by 54.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 915,000 shares of the company’s stock worth $33,388,000 after acquiring an additional 324,139 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Stock Performance

PECO stock opened at $34.51 on Monday. The firm has a market cap of $4.33 billion, a PE ratio of 62.75, a P/E/G ratio of 1.18 and a beta of 0.54. The firm’s fifty day moving average is $34.53 and its 200 day moving average is $34.85. Phillips Edison & Company, Inc. has a one year low of $32.40 and a one year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. Research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.1083 per share. This represents a c) annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 236.36%.

Analysts Set New Price Targets

PECO has been the topic of a number of research reports. LADENBURG THALM/SH SH initiated coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They issued a “buy” rating and a $40.00 price objective on the stock. UBS Group started coverage on shares of Phillips Edison & Company, Inc. in a research note on Friday. They issued a “neutral” rating and a $37.00 price objective on the stock. Barclays raised their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Mizuho dropped their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Finally, Wall Street Zen lowered shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $38.86.

Phillips Edison & Company, Inc. Company Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.