Cibc World Markets Corp Takes Position in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Cibc World Markets Corp bought a new stake in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,491 shares of the company’s stock, valued at approximately $430,000.

Other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of Phillips Edison & Company, Inc. during the third quarter valued at approximately $36,000. Allworth Financial LP grew its holdings in shares of Phillips Edison & Company, Inc. by 94.6% during the fourth quarter. Allworth Financial LP now owns 1,621 shares of the company’s stock valued at $58,000 after purchasing an additional 788 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Phillips Edison & Company, Inc. by 24.9% during the fourth quarter. Blue Trust Inc. now owns 3,023 shares of the company’s stock valued at $113,000 after purchasing an additional 603 shares during the last quarter. Eukles Asset Management bought a new position in shares of Phillips Edison & Company, Inc. during the fourth quarter valued at approximately $156,000. Finally, KBC Group NV grew its holdings in shares of Phillips Edison & Company, Inc. by 13.4% during the fourth 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.

Analyst Ratings Changes

A number of brokerages recently issued reports on PECO. Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Mizuho decreased their price objective on Phillips Edison & Company, Inc. from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. decreased their price objective on 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Phillips Edison & Company, Inc. Price Performance

PECO opened at $34.93 on Monday. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 69.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.57. Phillips Edison & Company, Inc. has a 1-year low of $30.62 and a 1-year high of $40.12. The business has a 50 day moving average price of $36.09 and a two-hundred day moving average price of $37.31.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last released its 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 2.40% and a net margin of 9.48%. Equities analysts expect that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a $0.1025 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 3.52%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is 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.