Y Intercept Hong Kong Ltd Takes $657,000 Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Y Intercept Hong Kong Ltd acquired a new position in Phillips Edison & Company, Inc. (NASDAQ:PECO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,535 shares of the company’s stock, valued at approximately $657,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of Phillips Edison & Company, Inc. by 2.9% in the third 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 in the last quarter. State of Alaska Department of Revenue raised its position in Phillips Edison & Company, Inc. by 0.3% during the fourth quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company’s stock valued at $4,811,000 after buying an additional 344 shares during the period. Private Advisor Group LLC lifted its stake in Phillips Edison & Company, Inc. by 6.5% in the 3rd quarter. Private Advisor Group LLC now owns 8,009 shares of the company’s stock worth $302,000 after acquiring an additional 487 shares in the last quarter. Exchange Traded Concepts LLC boosted its position 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 worth $756,000 after acquiring an additional 510 shares during the period. Finally, KBC Group NV grew 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 acquiring an additional 522 shares in the last quarter. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PECO has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Mizuho decreased their price target on shares of Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday. 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 for the company in a report on Tuesday, January 7th. Finally, Wolfe Research upgraded shares of Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Phillips Edison & Company, Inc. Stock Performance

Shares of PECO opened at $37.20 on Friday. The firm has a market cap of $4.66 billion, a PE ratio of 74.40, a PEG ratio of 1.70 and a beta of 0.58. The firm’s 50 day moving average price is $36.61 and its 200 day moving average price is $37.35. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued 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, sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 3.31%. The ex-dividend date is Monday, March 17th. Phillips Edison & Company, Inc.’s payout ratio is presently 246.00%.

About Phillips Edison & Company, Inc.

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.