Verition Fund Management LLC Grows Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Verition Fund Management LLC increased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 191.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,802 shares of the company’s stock after purchasing an additional 14,975 shares during the period. Verition Fund Management LLC’s holdings in Phillips Edison & Company, Inc. were worth $860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Phillips Edison & Company, Inc. by 160.2% during the 2nd quarter. Blue Trust Inc. now owns 2,095 shares of the company’s stock valued at $75,000 after buying an additional 1,290 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Phillips Edison & Company, Inc. by 4.5% during the second quarter. Nisa Investment Advisors LLC now owns 41,437 shares of the company’s stock worth $1,359,000 after acquiring an additional 1,776 shares during the period. Hobbs Group Advisors LLC purchased a new position in Phillips Edison & Company, Inc. during the second quarter valued at approximately $39,000. Atria Wealth Solutions Inc. lifted its holdings in Phillips Edison & Company, Inc. by 2.1% in the second quarter. Atria Wealth Solutions Inc. now owns 72,074 shares of the company’s stock valued at $2,363,000 after acquiring an additional 1,474 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $26,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Phillips Edison & Company, Inc. Trading Down 0.2 %

Shares of Phillips Edison & Company, Inc. stock opened at $39.20 on Tuesday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The firm’s 50-day moving average price is $38.05 and its 200 day moving average price is $35.81. The firm has a market capitalization of $4.81 billion, a PE ratio of 85.22, a P/E/G ratio of 3.61 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 267.39%.

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.