KBC Group NV Trims Stock Position in Phillips Edison & Company, Inc. $PECO

KBC Group NV decreased its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 35.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,606 shares of the company’s stock after selling 2,023 shares during the quarter. KBC Group NV’s holdings in Phillips Edison & Company, Inc. were worth $126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Phillips Edison & Company, Inc. by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 19,720,204 shares of the company’s stock valued at $719,590,000 after purchasing an additional 397,862 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Phillips Edison & Company, Inc. by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,174,051 shares of the company’s stock worth $79,331,000 after buying an additional 28,534 shares during the period. Alyeska Investment Group L.P. lifted its stake in Phillips Edison & Company, Inc. by 42.1% in the first quarter. Alyeska Investment Group L.P. now owns 2,013,308 shares of the company’s stock valued at $73,466,000 after buying an additional 596,123 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Phillips Edison & Company, Inc. by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 991,796 shares of the company’s stock valued at $34,743,000 after acquiring an additional 59,060 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Phillips Edison & Company, Inc. by 54.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 915,000 shares of the company’s stock valued at $33,388,000 after acquiring an additional 324,139 shares during the period. Institutional investors and hedge funds own 80.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PECO shares. Barclays lifted their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Phillips Edison & Company, Inc. in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Phillips Edison & Company, Inc. from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. LADENBURG THALM/SH SH assumed coverage on shares of Phillips Edison & Company, Inc. in a research note on Tuesday, September 9th. They set a “buy” rating and a $40.00 target price for the company. Finally, Wells Fargo & Company began coverage on Phillips Edison & Company, Inc. in a report on Tuesday, October 21st. They set an “equal weight” rating and a $36.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Phillips Edison & Company, Inc. presently has a consensus rating of “Hold” and a consensus target price of $38.33.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO opened at $34.69 on Friday. The stock has a market capitalization of $4.36 billion, a P/E ratio of 52.56, a P/E/G ratio of 1.49 and a beta of 0.53. Phillips Edison & Company, Inc. has a 1 year low of $32.40 and a 1 year high of $40.12. The company’s fifty day moving average is $34.39 and its two-hundred day moving average is $34.75.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its earnings results on Thursday, October 23rd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.44). Phillips Edison & Company, Inc. had a net margin of 11.51% and a return on equity of 3.14%. The firm had revenue of $182.67 million during the quarter, compared to analysts’ expectations of $177.19 million. During the same period in the previous year, the firm earned $0.62 EPS. The firm’s revenue was up 10.4% on a year-over-year basis. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.620-0.650 EPS. Sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.1083 per share. The ex-dividend date is Tuesday, February 17th. This represents a c) annualized dividend and a yield of 3.7%. Phillips Edison & Company, Inc.’s payout ratio is presently 196.97%.

Phillips Edison & Company, Inc. 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.