Spire Wealth Management Sells 17,002 Shares of Phillips Edison & Company, Inc. $PECO

Spire Wealth Management lowered its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 50.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,478 shares of the company’s stock after selling 17,002 shares during the quarter. Spire Wealth Management’s holdings in Phillips Edison & Company, Inc. were worth $577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in 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 buying an additional 397,862 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Phillips Edison & Company, Inc. by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,174,051 shares of the company’s stock valued at $79,331,000 after acquiring an additional 28,534 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Phillips Edison & Company, Inc. by 42.1% in the 1st 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 in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Phillips Edison & Company, Inc. by 54.9% in the 1st 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 in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Phillips Edison & Company, Inc. during the 1st quarter worth $32,465,000. 80.70% of the stock is currently owned by institutional investors.

Phillips Edison & Company, Inc. Stock Down 0.4%

PECO opened at $33.84 on Friday. The company has a market cap of $4.25 billion, a P/E ratio of 51.27, a price-to-earnings-growth ratio of 1.46 and a beta of 0.54. The firm’s 50-day moving average price is $34.61 and its 200-day moving average price is $34.83. Phillips Edison & Company, Inc. has a 52-week low of $32.40 and a 52-week high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its earnings results on Thursday, October 23rd. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. Phillips Edison & Company, Inc. had a net margin of 11.51% and a return on equity of 3.14%. The company had revenue of $178.29 million for the quarter, compared to the consensus estimate of $177.19 million. During the same quarter in the previous year, the firm earned $0.62 EPS. Phillips Edison & Company, Inc.’s revenue was up 10.4% compared to the same quarter last year. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. On average, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, November 4th. Investors of record on Wednesday, October 15th will be given a $0.1083 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 196.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays lifted their target price on Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Wells Fargo & Company assumed coverage on shares of Phillips Edison & Company, Inc. in a report on Tuesday, October 21st. They issued an “equal weight” rating and a $36.00 price target on the stock. Mizuho cut their price objective 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. LADENBURG THALM/SH SH assumed coverage on shares of Phillips Edison & Company, Inc. in a research report on Tuesday, September 9th. They set a “buy” rating and a $40.00 target price for the company. Finally, UBS Group initiated coverage on shares of Phillips Edison & Company, Inc. in a research note on Friday, October 17th. They issued a “neutral” rating and a $37.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.86.

About Phillips Edison & Company, Inc.

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.