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

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 42.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,034 shares of the company’s stock after buying an additional 23,426 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Phillips Edison & Company, Inc. worth $2,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its stake in Phillips Edison & Company, Inc. by 0.8% during the 4th quarter. Arizona State Retirement System now owns 35,534 shares of the company’s stock valued at $1,331,000 after purchasing an additional 290 shares during the last quarter. M&T Bank Corp boosted its stake in Phillips Edison & Company, Inc. by 2.9% during the 3rd quarter. M&T Bank Corp now owns 10,883 shares of the company’s stock valued at $410,000 after purchasing an additional 307 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Phillips Edison & Company, Inc. by 0.3% during the 4th quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company’s stock valued at $4,811,000 after purchasing an additional 344 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Phillips Edison & Company, Inc. by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 20,185 shares of the company’s stock valued at $756,000 after purchasing an additional 510 shares during the last quarter. Finally, KBC Group NV boosted its stake in Phillips Edison & Company, Inc. by 13.4% during the 4th quarter. KBC Group NV now owns 4,424 shares of the company’s stock valued at $166,000 after purchasing an additional 522 shares during the last quarter. 80.70% of the stock is owned by institutional investors.

Phillips Edison & Company, Inc. Trading Up 1.1 %

NASDAQ:PECO opened at $34.81 on Friday. The stock 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. The firm’s 50 day moving average is $36.22 and its 200 day moving average is $37.37. 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 posted its quarterly earnings results on Thursday, February 6th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates 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%. Research analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Dividend Announcement

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

Wall Street Analyst Weigh In

PECO has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, Mizuho cut their target price on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Phillips Edison & Company, Inc. currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

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.