Harbour Investments Inc. Decreases Stake in Phillips Edison & Company, Inc. $PECO

Harbour Investments Inc. reduced its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,430 shares of the company’s stock after selling 771 shares during the period. Harbour Investments Inc.’s holdings in Phillips Edison & Company, Inc. were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of Phillips Edison & Company, Inc. by 78.1% in the first quarter. Fifth Third Bancorp now owns 732 shares of the company’s stock worth $27,000 after buying an additional 321 shares in the last quarter. Quarry LP grew its holdings in Phillips Edison & Company, Inc. by 21,362.5% in the 1st quarter. Quarry LP now owns 1,717 shares of the company’s stock valued at $63,000 after buying an additional 1,709 shares in the last quarter. FSC Wealth Advisors LLC purchased a new stake in Phillips Edison & Company, Inc. in the 1st quarter valued at $91,000. PNC Financial Services Group Inc. grew its holdings in Phillips Edison & Company, Inc. by 20.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,995 shares of the company’s stock valued at $109,000 after buying an additional 515 shares in the last quarter. Finally, Rossby Financial LCC purchased a new stake in Phillips Edison & Company, Inc. in the 1st quarter valued at $105,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PECO has been the topic of a number of analyst reports. LADENBURG THALM/SH SH initiated coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They set a “buy” rating and a $40.00 target price on the stock. Wall Street Zen lowered shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Barclays lifted their price target on shares of Phillips Edison & Company, Inc. from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Mizuho reduced their price target on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Finally, UBS Group began coverage on shares of Phillips Edison & Company, Inc. in a research report on Friday. They set a “neutral” rating and a $37.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.86.

Phillips Edison & Company, Inc. Stock Performance

Phillips Edison & Company, Inc. stock opened at $34.51 on Monday. The company’s 50 day simple moving average is $34.53 and its 200-day simple moving average is $34.85. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 62.75, a price-to-earnings-growth ratio of 1.18 and a beta of 0.54. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $173.47 million for the quarter, compared to the consensus estimate of $174.38 million. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. Equities 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 declared a monthly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Wednesday, October 15th will be paid a $0.1083 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, October 15th. Phillips Edison & Company, Inc.’s payout ratio is 236.36%.

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.