First Heartland Consultants Inc. Boosts Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

First Heartland Consultants Inc. increased its position in Phillips Edison & Company, Inc. (NASDAQ:PECO) by 12.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,663 shares of the company’s stock after purchasing an additional 1,170 shares during the period. First Heartland Consultants Inc.’s holdings in Phillips Edison & Company, Inc. were worth $402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Duff & Phelps Investment Management Co. purchased a new stake in Phillips Edison & Company, Inc. during the 2nd quarter valued at approximately $32,120,000. Cetera Investment Advisers grew its holdings in shares of Phillips Edison & Company, Inc. by 240.9% in the 1st quarter. Cetera Investment Advisers now owns 1,170,077 shares of the company’s stock worth $41,971,000 after acquiring an additional 826,891 shares during the period. Vanguard Group Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 19,337,030 shares of the company’s stock worth $693,619,000 after acquiring an additional 577,445 shares during the period. Cetera Advisors LLC grew its holdings in shares of Phillips Edison & Company, Inc. by 60.4% in the 1st quarter. Cetera Advisors LLC now owns 791,147 shares of the company’s stock worth $28,378,000 after acquiring an additional 297,945 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of Phillips Edison & Company, Inc. in the 2nd quarter worth approximately $8,397,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Stock Performance

Shares of NASDAQ:PECO opened at $39.03 on Wednesday. The business’s fifty day moving average price is $37.56 and its two-hundred day moving average price is $34.92. The stock has a market cap of $4.79 billion, a PE ratio of 84.85, a price-to-earnings-growth ratio of 3.62 and a beta of 0.57. Phillips Edison & Company, Inc. has a one year low of $30.62 and a one year high of $39.83.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings data on Thursday, October 24th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.52). Phillips Edison & Company, Inc. had a return on equity of 2.22% and a net margin of 9.03%. The business had revenue of $165.50 million for the quarter, compared to analyst estimates of $157.20 million. During the same quarter last year, the business earned $0.58 EPS. Phillips Edison & Company, Inc.’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Phillips Edison & Company, Inc. will post 2.42 earnings per share for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, February 18th. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 267.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PECO shares. Wells Fargo & Company upgraded Phillips Edison & Company, Inc. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $34.00 to $37.00 in a report on Wednesday, August 28th. Mizuho increased their target price on Phillips Edison & Company, Inc. from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Compass Point increased their target price on Phillips Edison & Company, Inc. from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.50.

Phillips Edison & Company, Inc. Profile

Phillips Edison & Company, Inc (PECO) is one of the nation's largest owners and operators of omni-channel grocery-anchored shopping centers. Founded in 1991, PECO has generated strong results through its vertically-integrated operating platform and national footprint of well-occupied shopping centers.