Teacher Retirement System of Texas Increases Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Teacher Retirement System of Texas grew its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,443 shares of the company’s stock after purchasing an additional 4,320 shares during the quarter. Teacher Retirement System of Texas’ holdings in Phillips Edison & Company, Inc. were worth $1,215,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PECO. Legacy Investment Solutions LLC purchased a new position in shares of Phillips Edison & Company, Inc. in the 3rd quarter valued at $36,000. Allworth Financial LP boosted its stake in Phillips Edison & Company, Inc. by 94.6% in the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after acquiring an additional 788 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 24.9% during the fourth quarter. Blue Trust Inc. now owns 3,023 shares of the company’s stock worth $113,000 after purchasing an additional 603 shares during the last quarter. Eukles Asset Management acquired a new stake in shares of Phillips Edison & Company, Inc. during the fourth quarter worth about $156,000. Finally, KBC Group NV lifted its holdings in shares of Phillips Edison & Company, Inc. by 13.4% in the 4th quarter. KBC Group NV now owns 4,424 shares of the company’s stock valued at $166,000 after purchasing an additional 522 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PECO has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company lowered their price objective on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Mizuho reduced their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.83.

Phillips Edison & Company, Inc. Trading Up 0.8 %

Shares of NASDAQ:PECO opened at $35.96 on Friday. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 71.92, a PEG ratio of 1.70 and a beta of 0.57. The stock’s 50-day moving average price is $36.10 and its two-hundred day moving average price is $37.26. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. As a group, research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.’s payout ratio is 246.00%.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Co, Inc is a real estate investment trust, which engages in the ownership and operation of shopping centers. It also offers an investment management business providing property management and advisory services. Its portfolio consists of well-occupied, grocery-anchored neighborhood and community shopping centers having a mix of national, regional, and local retailers offering necessity-based goods and services.