Norges Bank Buys New Shares in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Norges Bank purchased a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO) in the 4th quarter, Holdings Channel.com reports. The fund purchased 1,494,323 shares of the company’s stock, valued at approximately $55,977,000.

Several other institutional investors also recently bought and sold shares of PECO. Vanguard Group Inc. increased its stake in Phillips Edison & Company, Inc. by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 19,322,342 shares of the company’s stock worth $723,815,000 after purchasing an additional 82,913 shares during the period. State Street Corp increased its position in shares of Phillips Edison & Company, Inc. by 0.3% in the third quarter. State Street Corp now owns 7,068,684 shares of the company’s stock valued at $267,289,000 after acquiring an additional 18,429 shares during the period. Geode Capital Management LLC grew its stake in shares of Phillips Edison & Company, Inc. by 0.6% in the third quarter. Geode Capital Management LLC now owns 3,190,836 shares of the company’s stock worth $120,347,000 after purchasing an additional 19,205 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Phillips Edison & Company, Inc. by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,145,517 shares of the company’s stock worth $80,371,000 after buying an additional 51,186 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Phillips Edison & Company, Inc. by 53.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,737,423 shares of the company’s stock valued at $65,084,000 after acquiring an additional 606,055 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on PECO shares. Wells Fargo & Company lowered their price objective on Phillips Edison & Company, Inc. from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Mizuho dropped their price target on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.83.

Phillips Edison & Company, Inc. Trading Down 3.4 %

Phillips Edison & Company, Inc. stock opened at $36.06 on Friday. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 72.12, a PEG ratio of 1.70 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. The stock has a fifty day simple moving average of $36.15 and a two-hundred day simple moving average of $37.22.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, beating 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, equities research analysts forecast that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Tuesday, April 15th. Phillips Edison & Company, Inc.’s payout ratio is currently 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.