Hsbc Holdings PLC boosted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) by 33.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 248,985 shares of the company’s stock after buying an additional 62,523 shares during the quarter. Hsbc Holdings PLC’s holdings in Phillips Edison & Company, Inc. were worth $8,856,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PECO. Royal Bank of Canada grew its holdings in shares of Phillips Edison & Company, Inc. by 12.8% during the 1st 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 increased its position in shares of Phillips Edison & Company, Inc. by 8.2% during the 1st 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 last quarter. Integrated Wealth Concepts LLC purchased a new stake in Phillips Edison & Company, Inc. in the 1st quarter valued at about $333,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 buying an additional 3,199 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in 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 valued at $91,000 after buying an additional 865 shares during the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.
Phillips Edison & Company, Inc. Stock Up 0.3%
Phillips Edison & Company, Inc. stock opened at $42.34 on Friday. Phillips Edison & Company, Inc. has a 52-week low of $32.84 and a 52-week high of $42.70. The firm has a market cap of $5.33 billion, a PE ratio of 46.02, a price-to-earnings-growth ratio of 2.25 and a beta of 0.53. The company’s 50 day moving average is $40.27 and its two-hundred day moving average is $38.10.
Phillips Edison & Company, Inc. Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Tuesday, August 4th. Investors of record on Wednesday, July 15th will be paid a dividend of $0.1083 per share. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Phillips Edison & Company, Inc.’s payout ratio is presently 141.30%.
Wall Street Analysts Forecast Growth
PECO has been the subject of a number of recent analyst reports. UBS Group lifted their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, May 18th. Weiss Ratings upgraded shares of Phillips Edison & Company, Inc. from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 16th. Morgan Stanley increased their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 21st. Barclays lifted their target price on shares of Phillips Edison & Company, Inc. from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, Evercore reissued an “outperform” rating and issued a $43.00 target price on shares of Phillips Edison & Company, Inc. in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.29.
View Our Latest Stock Analysis 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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