Quantinno Capital Management LP raised its position in Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) by 317.7% in the 1st quarter, Holdings Channel reports. The firm owned 104,283 shares of the company’s stock after buying an additional 79,315 shares during the period. Quantinno Capital Management LP’s holdings in Phillips Edison & Company, Inc. were worth $3,902,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of PECO. Royal Bank of Canada increased its position in shares of Phillips Edison & Company, Inc. by 12.8% in the 1st quarter. Royal Bank of Canada now owns 81,726 shares of the company’s stock valued at $2,982,000 after buying an additional 9,250 shares in the last quarter. AQR Capital Management LLC lifted its holdings in 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 acquiring an additional 845 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Phillips Edison & Company, Inc. in the first quarter valued at about $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Phillips Edison & Company, Inc. by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,111 shares of the company’s stock valued at $2,668,000 after acquiring an additional 3,199 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Phillips Edison & Company, Inc. by 49.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,604 shares of the company’s stock worth $91,000 after acquiring an additional 865 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.
Phillips Edison & Company, Inc. Trading Up 0.1%
Shares of PECO opened at $40.75 on Friday. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.11 and a beta of 0.52. Phillips Edison & Company, Inc. has a 1-year low of $32.84 and a 1-year high of $44.38. The company’s fifty day simple moving average is $41.81 and its 200 day simple moving average is $39.57.
Phillips Edison & Company, Inc. Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.1083 dividend. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, August 17th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 113.04%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Phillips Edison & Company, Inc. from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group upped their price target on shares of Phillips Edison & Company, Inc. from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Wells Fargo & Company increased their price objective on shares of Phillips Edison & Company, Inc. from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Griffin Securities set a $47.00 price objective on shares of Phillips Edison & Company, Inc. in a report on Monday, July 27th. Finally, Morgan Stanley boosted their price objective on shares of Phillips Edison & Company, Inc. from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and a consensus target price of $44.67.
Check Out Our Latest Stock Report on Phillips Edison & Company, Inc.
Phillips Edison & Company, Inc. Company Profile
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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