State of Alaska Department of Revenue Has $4.81 Million Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

State of Alaska Department of Revenue increased its stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,465 shares of the company’s stock after purchasing an additional 344 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.10% of Phillips Edison & Company, Inc. worth $4,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PECO. State Street Corp increased its holdings in shares of Phillips Edison & Company, Inc. by 0.3% during the third quarter. State Street Corp now owns 7,068,684 shares of the company’s stock worth $267,289,000 after buying an additional 18,429 shares in the last quarter. Geode Capital Management LLC increased its holdings in Phillips Edison & Company, Inc. by 0.6% in the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its position in Phillips Edison & Company, Inc. by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,094,331 shares of the company’s stock valued at $78,977,000 after purchasing an additional 102,519 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its stake in shares of Phillips Edison & Company, Inc. by 50.1% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,474,130 shares of the company’s stock valued at $55,589,000 after purchasing an additional 492,160 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Phillips Edison & Company, Inc. by 5.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,108,716 shares of the company’s stock worth $41,810,000 after purchasing an additional 56,897 shares during the last quarter. Institutional investors own 80.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Mizuho lifted their target price on shares of Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. 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 on the stock in a report on Wednesday, November 13th. JPMorgan Chase & Co. reduced their price objective on shares of 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, Wells Fargo & Company lowered their target price on 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips Edison & Company, Inc. currently has an average rating of “Moderate Buy” and an average price target of $39.50.

Phillips Edison & Company, Inc. Stock Up 1.9 %

PECO opened at $37.32 on Friday. Phillips Edison & Company, Inc. has a twelve month low of $30.62 and a twelve month high of $40.12. The company has a fifty day moving average of $37.38 and a 200-day moving average of $37.17. The stock has a market cap of $4.58 billion, a PE ratio of 81.13, a price-to-earnings-growth ratio of 3.17 and a beta of 0.58.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.50. Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. Sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.42 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 3rd. Shareholders of record on Tuesday, December 17th were issued a $0.1025 dividend. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. This represents a yield of 3.13%. The ex-dividend date of this dividend was Monday, December 16th. Phillips Edison & Company, Inc.’s payout ratio is presently 267.39%.

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.