Massachusetts Financial Services Co. MA Raises Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Massachusetts Financial Services Co. MA increased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.4% in the third quarter, Holdings Channel reports. The firm owned 1,108,716 shares of the company’s stock after acquiring an additional 56,897 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Phillips Edison & Company, Inc. were worth $41,810,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Phillips Edison & Company, Inc. by 15.5% during the third quarter. Blue Trust Inc. now owns 2,420 shares of the company’s stock worth $91,000 after purchasing an additional 325 shares in the last quarter. Xponance Inc. boosted its holdings in Phillips Edison & Company, Inc. by 6.3% in the 2nd quarter. Xponance Inc. now owns 7,789 shares of the company’s stock worth $255,000 after acquiring an additional 465 shares during the period. Private Advisor Group LLC grew its position in Phillips Edison & Company, Inc. by 6.5% in the third quarter. Private Advisor Group LLC now owns 8,009 shares of the company’s stock valued at $302,000 after acquiring an additional 487 shares in the last quarter. Calton & Associates Inc. grew its position in Phillips Edison & Company, Inc. by 1.8% in the third quarter. Calton & Associates Inc. now owns 37,233 shares of the company’s stock valued at $1,404,000 after acquiring an additional 641 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 1.1% during the first quarter. American International Group Inc. now owns 65,003 shares of the company’s stock worth $2,332,000 after purchasing an additional 699 shares in the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Up 0.7 %

Shares of NASDAQ PECO opened at $39.33 on Monday. The stock’s 50 day moving average price is $37.79 and its two-hundred day moving average price is $35.27. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $39.83. The stock has a market capitalization of $4.82 billion, a P/E ratio of 85.50, a PEG ratio of 3.59 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). The firm had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. Phillips Edison & Company, Inc. had a net margin of 9.03% and a return on equity of 2.22%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. On average, analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 267.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PECO shares. Compass Point raised their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Mizuho boosted their price target on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $38.43.

Phillips Edison & Company, Inc. Profile

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.