State of Alaska Department of Revenue Purchases 430 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

State of Alaska Department of Revenue boosted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 128,895 shares of the company’s stock after purchasing an additional 430 shares during the period. State of Alaska Department of Revenue owned about 0.10% of Phillips Edison & Company, Inc. worth $4,701,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in Phillips Edison & Company, Inc. in the 1st quarter worth about $1,002,000. Fifth Third Bancorp grew its position in Phillips Edison & Company, Inc. by 78.1% in the 1st quarter. Fifth Third Bancorp now owns 732 shares of the company’s stock worth $27,000 after purchasing an additional 321 shares in the last quarter. CX Institutional bought a new stake in Phillips Edison & Company, Inc. in the 1st quarter worth about $30,000. Handelsbanken Fonder AB grew its position in Phillips Edison & Company, Inc. by 5.9% in the 1st quarter. Handelsbanken Fonder AB now owns 44,600 shares of the company’s stock worth $1,627,000 after purchasing an additional 2,500 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Phillips Edison & Company, Inc. in the 1st quarter worth about $5,072,000. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Stock Up 0.2%

PECO opened at $35.40 on Friday. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 62.11, a PEG ratio of 1.24 and a beta of 0.56. Phillips Edison & Company, Inc. has a twelve month low of $31.79 and a twelve month high of $40.12. The company’s 50-day moving average price is $35.41 and its two-hundred day moving average price is $36.14.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $178.31 million for the quarter, compared to analysts’ expectations of $170.59 million. Phillips Edison & Company, Inc. had a net margin of 10.51% and a return on equity of 2.73%. Phillips Edison & Company, Inc.’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. As a group, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th will be paid a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a dividend yield of 3.5%. Phillips Edison & Company, Inc.’s payout ratio is 215.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PECO shares. Mizuho reduced their price objective on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Wells Fargo & Company dropped their target price 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 note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.00.

Phillips Edison & Company, Inc. Company 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.