Handelsbanken Fonder AB Buys 9,600 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Handelsbanken Fonder AB increased its stake in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 30.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,700 shares of the company’s stock after buying an additional 9,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Phillips Edison & Company, Inc. were worth $1,535,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PECO. Illinois Municipal Retirement Fund raised its position in Phillips Edison & Company, Inc. by 0.6% during the first quarter. Illinois Municipal Retirement Fund now owns 67,554 shares of the company’s stock worth $2,423,000 after acquiring an additional 372 shares in the last quarter. Xponance Inc. raised its holdings in shares of Phillips Edison & Company, Inc. by 6.3% in the 2nd quarter. Xponance Inc. now owns 7,789 shares of the company’s stock valued at $255,000 after purchasing an additional 465 shares during the period. Maryland State Retirement & Pension System lifted its stake in Phillips Edison & Company, Inc. by 1.2% in the 1st quarter. Maryland State Retirement & Pension System now owns 43,970 shares of the company’s stock valued at $1,577,000 after purchasing an additional 502 shares during the last quarter. Accel Wealth Management grew its holdings in Phillips Edison & Company, Inc. by 2.3% during the first quarter. Accel Wealth Management now owns 31,142 shares of the company’s stock worth $1,117,000 after purchasing an additional 686 shares during the period. Finally, American International Group Inc. grew its holdings in Phillips Edison & Company, Inc. by 1.1% during the first quarter. American International Group Inc. now owns 65,003 shares of the company’s stock worth $2,332,000 after purchasing an additional 699 shares during the period. 80.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

PECO has been the topic of several research analyst reports. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $34.00 to $37.00 in a research note on Wednesday, August 28th. Compass Point increased their price target on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, September 10th. Finally, Mizuho lifted their price objective on shares of 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. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.50.

Phillips Edison & Company, Inc. Trading Down 0.7 %

Shares of NASDAQ PECO opened at $35.95 on Friday. The firm has a market cap of $4.40 billion, a P/E ratio of 78.15, a price-to-earnings-growth ratio of 3.47 and a beta of 0.57. The business’s 50 day moving average is $36.62 and its 200-day moving average is $34.31. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $39.08.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.48). The firm had revenue of $161.52 million for the quarter, compared to the consensus estimate of $156.29 million. Phillips Edison & Company, Inc. had a return on equity of 2.23% and a net margin of 9.32%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. Analysts forecast that Phillips Edison & Company, Inc. will post 2.42 EPS for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.1025 dividend. This is a boost from Phillips Edison & Company, Inc.’s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. This represents a $1.23 annualized dividend and a yield of 3.42%. Phillips Edison & Company, Inc.’s payout ratio is 267.39%.

Phillips Edison & Company, Inc. Company Profile

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.