Bank of Montreal Can Boosts Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Bank of Montreal Can raised its holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 609.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,300 shares of the company’s stock after purchasing an additional 76,706 shares during the period. Bank of Montreal Can’s holdings in Phillips Edison & Company, Inc. were worth $3,327,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PECO. Duff & Phelps Investment Management Co. purchased a new position in Phillips Edison & Company, Inc. during the second quarter valued at approximately $32,120,000. Millennium Management LLC purchased a new position in Phillips Edison & Company, Inc. during the second quarter valued at approximately $8,397,000. Dimensional Fund Advisors LP grew its stake in Phillips Edison & Company, Inc. by 16.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,250,731 shares of the company’s stock valued at $40,911,000 after acquiring an additional 179,775 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Phillips Edison & Company, Inc. by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock valued at $78,977,000 after acquiring an additional 102,519 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Phillips Edison & Company, Inc. by 3,092.8% during the third quarter. International Assets Investment Management LLC now owns 104,117 shares of the company’s stock valued at $3,926,000 after acquiring an additional 100,856 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PECO has been the subject of several recent analyst reports. Wolfe Research raised shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a research note on Wednesday, November 13th. Wells Fargo & Company upgraded shares of Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $34.00 to $37.00 in a research report on Wednesday, August 28th. Compass Point boosted their price objective on shares of Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 10th. Finally, Mizuho lifted their target price on shares of Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Hold” and a consensus target price of $38.43.

Phillips Edison & Company, Inc. Trading Up 0.2 %

Shares of Phillips Edison & Company, Inc. stock opened at $39.18 on Thursday. The company’s fifty day simple moving average is $37.92 and its two-hundred day simple moving average is $35.60. The company has a market cap of $4.80 billion, a P/E ratio of 85.17, a PEG ratio of 3.61 and a beta of 0.57. Phillips Edison & Company, Inc. has a 12-month low of $30.62 and a 12-month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its quarterly earnings results on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.52). The firm had revenue of $165.50 million during the quarter, compared to the consensus estimate of $157.20 million. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 EPS. Analysts predict that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, February 18th. 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.