Point72 DIFC Ltd Makes New Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Point72 DIFC Ltd acquired a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,709 shares of the company’s stock, valued at approximately $285,000.

Other hedge funds have also modified their holdings of the company. GRS Advisors LLC purchased a new position in Phillips Edison & Company, Inc. in the fourth quarter worth approximately $26,042,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Phillips Edison & Company, Inc. during the 1st quarter worth $607,000. Harbor Capital Advisors Inc. grew its stake in shares of Phillips Edison & Company, Inc. by 67.1% during the second quarter. Harbor Capital Advisors Inc. now owns 77,686 shares of the company’s stock worth $2,541,000 after purchasing an additional 31,189 shares in the last quarter. Cetera Investment Advisers increased its holdings in Phillips Edison & Company, Inc. by 240.9% in the first quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock valued at $41,971,000 after buying an additional 826,891 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Phillips Edison & Company, Inc. by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 18,759,585 shares of the company’s stock valued at $684,350,000 after buying an additional 266,832 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Stock Performance

Phillips Edison & Company, Inc. stock opened at $37.37 on Friday. The stock has a 50-day simple moving average of $36.23 and a 200-day simple moving average of $34.23. The company has a market capitalization of $4.57 billion, a P/E ratio of 81.24, a PEG ratio of 3.65 and a beta of 0.57. Phillips Edison & Company, Inc. has a fifty-two week low of $30.62 and a fifty-two week high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.48). The firm had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $156.29 million. Phillips Edison & Company, Inc. had a net margin of 9.32% and a return on equity of 2.23%. Phillips Edison & Company, Inc.’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. As a group, analysts forecast that Phillips Edison & Company, Inc. will post 2.41 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.1025 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.29%. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Mizuho upped their price objective on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Compass Point upped their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. presently has an average rating of “Hold” and an average price target of $37.50.

About Phillips Edison & Company, Inc.

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.