Charles Schwab Investment Management Inc. Has $78.98 Million Stock Holdings in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Charles Schwab Investment Management Inc. increased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 5.1% in the third quarter, Holdings Channel.com reports. The firm owned 2,094,331 shares of the company’s stock after acquiring an additional 102,519 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Phillips Edison & Company, Inc. were worth $78,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Phillips Edison & Company, Inc. by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company’s stock valued at $41,810,000 after purchasing an additional 56,897 shares during the last quarter. Intech Investment Management LLC bought a new position in Phillips Edison & Company, Inc. in the third quarter valued at approximately $877,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Phillips Edison & Company, Inc. during the 3rd quarter worth $468,000. Cassady Schiller Wealth Management LLC bought a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $546,000. Finally, Natixis Advisors LLC lifted its stake in shares of Phillips Edison & Company, Inc. by 132.6% in the 3rd quarter. Natixis Advisors LLC now owns 43,782 shares of the company’s stock valued at $1,651,000 after purchasing an additional 24,963 shares during the period. 80.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO stock opened at $39.80 on Thursday. Phillips Edison & Company, Inc. has a 52 week low of $30.62 and a 52 week high of $40.12. The company’s 50 day moving average price is $37.81 and its two-hundred day moving average price is $35.36. The company has a market capitalization of $4.88 billion, a P/E ratio of 86.67, a price-to-earnings-growth ratio of 3.61 and a beta of 0.57.

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

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 3.09%. Phillips Edison & Company, Inc.’s dividend payout ratio is currently 267.39%.

Phillips Edison & Company, Inc. 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.