Zurcher Kantonalbank Zurich Cantonalbank Acquires 23,426 Shares of Phillips Edison & Company, Inc. (NASDAQ:PECO)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 42.1% during the fourth quarter, HoldingsChannel reports. The fund owned 79,034 shares of the company’s stock after purchasing an additional 23,426 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Phillips Edison & Company, Inc. were worth $2,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PECO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Phillips Edison & Company, Inc. by 408.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 765,822 shares of the company’s stock valued at $28,879,000 after acquiring an additional 615,076 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in Phillips Edison & Company, Inc. by 50.1% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock valued at $55,589,000 after acquiring an additional 492,160 shares during the period. Aew Capital Management L P raised its holdings in Phillips Edison & Company, Inc. by 47.0% during the 4th quarter. Aew Capital Management L P now owns 627,889 shares of the company’s stock valued at $23,521,000 after acquiring an additional 200,819 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Phillips Edison & Company, Inc. by 578.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 139,146 shares of the company’s stock valued at $5,247,000 after acquiring an additional 118,640 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Phillips Edison & Company, Inc. during the 4th quarter valued at $4,141,000. Institutional investors own 80.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PECO shares. Mizuho decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Wells Fargo & Company decreased their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Phillips Edison & Company, Inc. currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO opened at $34.81 on Friday. Phillips Edison & Company, Inc. has a 52-week low of $30.62 and a 52-week high of $40.12. The firm has a fifty day moving average of $36.22 and a 200 day moving average of $37.37. The firm has a market capitalization of $4.36 billion, a PE ratio of 69.62, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last announced its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.50. Phillips Edison & Company, Inc. had a net margin of 9.48% and a return on equity of 2.40%. On average, sell-side analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $0.1025 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.23 annualized dividend and a yield of 3.53%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is presently 246.00%.

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.