Kure Advisory LLC Invests $313,000 in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Kure Advisory LLC acquired a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,576 shares of the company’s stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PECO. Vanguard Group Inc. boosted its holdings in Phillips Edison & Company, Inc. by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 19,322,342 shares of the company’s stock worth $723,815,000 after buying an additional 82,913 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Phillips Edison & Company, Inc. by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 7,537,917 shares of the company’s stock valued at $282,370,000 after acquiring an additional 161,963 shares during the period. FMR LLC raised its position in shares of Phillips Edison & Company, Inc. by 14.6% in the 4th quarter. FMR LLC now owns 3,026,358 shares of the company’s stock valued at $113,367,000 after acquiring an additional 385,983 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Phillips Edison & Company, Inc. by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock worth $80,371,000 after acquiring an additional 51,186 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Phillips Edison & Company, Inc. by 53.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company’s stock worth $65,084,000 after acquiring an additional 606,055 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Mizuho lowered 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 research note on Tuesday, February 25th. Wells Fargo & Company decreased 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 report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and a consensus price target of $39.00.

Phillips Edison & Company, Inc. Price Performance

NASDAQ:PECO opened at $35.95 on Tuesday. The business’s 50-day simple moving average is $35.34 and its 200-day simple moving average is $36.47. Phillips Edison & Company, Inc. has a fifty-two week low of $30.86 and a fifty-two week high of $40.12. The stock has a market capitalization of $4.51 billion, a PE ratio of 71.90, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 16th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.42%. Phillips Edison & Company, Inc.’s payout ratio is 215.79%.

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.