Y Intercept Hong Kong Ltd bought a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 48,641 shares of the company’s stock, valued at approximately $1,820,000.
A number of other institutional investors have also made changes to their positions in PECO. Royal Bank of Canada boosted its holdings in Phillips Edison & Company, Inc. by 12.8% in the first quarter. Royal Bank of Canada now owns 81,726 shares of the company’s stock worth $2,982,000 after purchasing an additional 9,250 shares during the period. AQR Capital Management LLC raised its holdings in shares of Phillips Edison & Company, Inc. by 8.2% during the first quarter. AQR Capital Management LLC now owns 11,091 shares of the company’s stock worth $405,000 after purchasing an additional 845 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the first quarter worth $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Phillips Edison & Company, Inc. by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company’s stock worth $2,668,000 after buying an additional 3,199 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Phillips Edison & Company, Inc. by 49.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,604 shares of the company’s stock worth $91,000 after buying an additional 865 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.
Phillips Edison & Company, Inc. Stock Performance
Phillips Edison & Company, Inc. stock opened at $42.00 on Friday. Phillips Edison & Company, Inc. has a one year low of $32.84 and a one year high of $42.70. The company has a 50-day simple moving average of $40.75 and a 200-day simple moving average of $38.54. The firm has a market capitalization of $5.28 billion, a P/E ratio of 45.65, a P/E/G ratio of 2.23 and a beta of 0.52.
Phillips Edison & Company, Inc. Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.1083 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 3.1%. Phillips Edison & Company, Inc.’s payout ratio is currently 141.30%.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on PECO shares. LADENBURG THALM/SH SH lifted their price target on shares of Phillips Edison & Company, Inc. from $44.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Barclays increased their price objective on shares of Phillips Edison & Company, Inc. from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Evercore restated an “outperform” rating and issued a $44.00 target price on shares of Phillips Edison & Company, Inc. in a research note on Tuesday. Weiss Ratings lowered Phillips Edison & Company, Inc. from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Finally, Morgan Stanley upped their target price on Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.86.
Check Out Our Latest Stock Report on PECO
About Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc is a publicly traded real estate investment trust (REIT) that specializes in the acquisition, ownership and operation of grocery-anchored, necessity-based shopping centers. The company’s investment strategy is centered on properties that benefit from everyday consumer demand, seeking to deliver stable cash flows through long-term, triple-net leases with national and regional tenants in the grocery, drugstore and essential retail sectors.
In addition to its core retail portfolio, Phillips Edison & Company provides integrated services covering property management, asset management, leasing, development and acquisition sourcing.
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