Louisiana State Employees Retirement System Grows Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

by · The Cerbat Gem

Louisiana State Employees Retirement System lifted its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO – Free Report) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 61,600 shares of the company’s stock after buying an additional 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Phillips Edison & Company, Inc. were worth $2,015,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. acquired a new stake in Phillips Edison & Company, Inc. during the 2nd quarter worth $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Phillips Edison & Company, Inc. in the 4th quarter valued at about $32,000. Quadrant Capital Group LLC boosted its position in shares of Phillips Edison & Company, Inc. by 197.5% in the 4th quarter. Quadrant Capital Group LLC now owns 1,190 shares of the company’s stock valued at $43,000 after purchasing an additional 790 shares during the period. Hobbs Group Advisors LLC purchased a new position in Phillips Edison & Company, Inc. during the 2nd quarter worth approximately $39,000. Finally, PFG Private Wealth Management LLC acquired a new position in Phillips Edison & Company, Inc. during the second quarter worth approximately $62,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Analyst Upgrades and Downgrades

PECO has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $35.00 to $34.00 and set an “underweight” rating for the company in a report on Tuesday, May 28th. Compass Point lowered their price objective on shares of Phillips Edison & Company, Inc. from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Finally, Mizuho raised their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Phillips Edison & Company, Inc. has an average rating of “Hold” and an average target price of $36.83.

Check Out Our Latest Research Report on PECO

Phillips Edison & Company, Inc. Stock Up 1.7 %

NASDAQ PECO opened at $36.45 on Friday. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $37.92. The business’s 50-day moving average price is $33.85 and its 200 day moving average price is $33.78. The firm has a market cap of $4.46 billion, a P/E ratio of 79.24, a P/E/G ratio of 3.32 and a beta of 0.56.

Phillips Edison & Company, Inc. (NASDAQ:PECO – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The company had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $156.29 million. During the same period in the prior year, the business earned $0.59 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, analysts anticipate that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be issued a $0.097 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Thursday, August 15th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 254.35%.

Phillips Edison & Company, Inc. Profile

(Free Report)

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.

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