Y Intercept Hong Kong Ltd Has $238,000 Stock Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Y Intercept Hong Kong Ltd decreased its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 62.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,527 shares of the company’s stock after selling 11,008 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Phillips Edison & Company, Inc. were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Allianz Asset Management GmbH purchased a new stake in Phillips Edison & Company, Inc. in the 1st quarter valued at $5,641,000. J.W. Cole Advisors Inc. boosted its holdings in Phillips Edison & Company, Inc. by 190.8% during the first quarter. J.W. Cole Advisors Inc. now owns 193,445 shares of the company’s stock worth $7,059,000 after purchasing an additional 126,912 shares during the last quarter. Edgestream Partners L.P. grew its position in Phillips Edison & Company, Inc. by 86.7% in the 1st quarter. Edgestream Partners L.P. now owns 185,979 shares of the company’s stock worth $6,786,000 after purchasing an additional 86,358 shares in the last quarter. Xponance Inc. increased its stake in Phillips Edison & Company, Inc. by 5.3% in the 1st quarter. Xponance Inc. now owns 9,276 shares of the company’s stock valued at $338,000 after buying an additional 467 shares during the last quarter. Finally, Allworth Financial LP increased its stake in Phillips Edison & Company, Inc. by 425.0% in the 1st quarter. Allworth Financial LP now owns 8,510 shares of the company’s stock valued at $300,000 after buying an additional 6,889 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Mizuho cut their target price on Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Wall Street Zen cut Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, Barclays assumed coverage on Phillips Edison & Company, Inc. in a research report on Wednesday, July 2nd. They set an “equal weight” rating and a $37.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Phillips Edison & Company, Inc. has a consensus rating of “Hold” and a consensus price target of $38.50.

Phillips Edison & Company, Inc. Stock Down 2.0%

Shares of PECO stock opened at $34.42 on Thursday. The firm has a market cap of $4.32 billion, a P/E ratio of 62.58, a PEG ratio of 1.20 and a beta of 0.55. The company has a 50 day moving average of $35.04 and a 200-day moving average of $35.53. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. Phillips Edison & Company, Inc. had a return on equity of 2.64% and a net margin of 9.91%. Phillips Edison & Company, Inc.’s revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 earnings per share. As a group, equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 17th were issued a $0.1025 dividend. This represents a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 16th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 223.64%.

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.