Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Phillips Edison & Company, Inc. $PECO

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 89,503 shares of the company’s stock after acquiring an additional 3,398 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Phillips Edison & Company, Inc. were worth $3,135,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PECO. Xponance Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 5.3% in the first quarter. Xponance Inc. now owns 9,276 shares of the company’s stock worth $338,000 after buying an additional 467 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in Phillips Edison & Company, Inc. by 190.8% during the first quarter. J.W. Cole Advisors Inc. now owns 193,445 shares of the company’s stock valued at $7,059,000 after acquiring an additional 126,912 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Phillips Edison & Company, Inc. in the 1st quarter valued at $5,641,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Phillips Edison & Company, Inc. in the 1st quarter worth $2,199,000. Finally, Avantax Advisory Services Inc. purchased a new stake in Phillips Edison & Company, Inc. in the 1st quarter worth $2,705,000. Institutional investors own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PECO has been the topic of several research reports. Wall Street Zen raised Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays raised their price target on Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Wells Fargo & Company initiated coverage on Phillips Edison & Company, Inc. in a report on Tuesday, October 21st. They set an “equal weight” rating and a $36.00 price objective on the stock. Mizuho cut their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. Finally, UBS Group assumed coverage on shares of Phillips Edison & Company, Inc. in a research report on Friday, October 17th. They issued a “neutral” rating and a $37.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus target price of $38.00.

Phillips Edison & Company, Inc. Stock Down 0.1%

PECO stock opened at $34.69 on Friday. The business’s fifty day simple moving average is $34.51 and its two-hundred day simple moving average is $34.76. Phillips Edison & Company, Inc. has a twelve month low of $32.40 and a twelve month high of $40.12. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 52.56, a PEG ratio of 1.50 and a beta of 0.53.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, October 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.44). The company had revenue of $182.67 million for the quarter, compared to analysts’ expectations of $177.19 million. Phillips Edison & Company, Inc. had a net margin of 11.51% and a return on equity of 3.14%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. Research analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be paid a $0.1083 dividend. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, February 17th. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 196.97%.

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.