Northern Trust Corp Has $63.34 Million Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Northern Trust Corp lifted its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 26.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,690,805 shares of the company’s stock after purchasing an additional 356,368 shares during the quarter. Northern Trust Corp’s holdings in Phillips Edison & Company, Inc. were worth $63,338,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC increased its stake in shares of Phillips Edison & Company, Inc. by 49.2% in the 3rd quarter. Barclays PLC now owns 279,432 shares of the company’s stock valued at $10,538,000 after buying an additional 92,129 shares during the period. Synovus Financial Corp bought a new position in Phillips Edison & Company, Inc. in the third quarter valued at about $376,000. Harbor Capital Advisors Inc. increased its position in Phillips Edison & Company, Inc. by 0.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 72,465 shares of the company’s stock worth $2,715,000 after purchasing an additional 594 shares during the period. Foresight Group Ltd Liability Partnership bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter worth about $1,322,000. Finally, Wealthcare Advisory Partners LLC lifted its position in Phillips Edison & Company, Inc. by 63.4% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 10,901 shares of the company’s stock valued at $408,000 after purchasing an additional 4,228 shares during the period. Institutional investors own 80.70% of the company’s stock.

Phillips Edison & Company, Inc. Price Performance

Shares of NASDAQ PECO opened at $35.41 on Wednesday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 70.82, a P/E/G ratio of 1.70 and a beta of 0.57. The company’s fifty day moving average is $35.48 and its 200-day moving average is $36.84.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its earnings results on Thursday, April 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. Phillips Edison & Company, Inc. had a return on equity of 2.40% and a net margin of 9.48%. The firm had revenue of $178.31 million during the quarter, compared to analysts’ expectations of $170.59 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. On average, research analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Friday, May 16th will be given a $0.1025 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.23 annualized dividend and a dividend yield of 3.47%. Phillips Edison & Company, Inc.’s dividend payout ratio is presently 215.79%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PECO. Wells Fargo & Company lowered their price target on shares of Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Mizuho reduced their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Moderate Buy” and an average price target of $38.83.

About Phillips Edison & Company, Inc.

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.