PNC Financial Services Group Inc. Grows Stock Holdings in Phillips Edison & Company, Inc. $PECO

PNC Financial Services Group Inc. raised its position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) by 20.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,995 shares of the company’s stock after buying an additional 515 shares during the period. PNC Financial Services Group Inc.’s holdings in Phillips Edison & Company, Inc. were worth $109,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vestcor Inc purchased a new stake in shares of Phillips Edison & Company, Inc. during the first quarter valued at about $755,000. Geneos Wealth Management Inc. lifted its position in shares of Phillips Edison & Company, Inc. by 490.5% during the first quarter. Geneos Wealth Management Inc. now owns 84,470 shares of the company’s stock valued at $3,082,000 after buying an additional 70,164 shares during the last quarter. LPL Financial LLC lifted its position in shares of Phillips Edison & Company, Inc. by 4.7% during the first quarter. LPL Financial LLC now owns 388,084 shares of the company’s stock valued at $14,161,000 after buying an additional 17,448 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Phillips Edison & Company, Inc. by 1.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,385 shares of the company’s stock valued at $2,933,000 after buying an additional 1,351 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of Phillips Edison & Company, Inc. during the first quarter valued at about $2,705,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Phillips Edison & Company, Inc. Trading Up 1.0%

PECO opened at $34.13 on Wednesday. Phillips Edison & Company, Inc. has a 12-month low of $32.40 and a 12-month high of $40.12. The firm has a market capitalization of $4.29 billion, a PE ratio of 62.05, a P/E/G ratio of 1.15 and a beta of 0.54. The firm has a 50 day moving average of $34.62 and a two-hundred day moving average of $35.29.

Phillips Edison & Company, Inc. (NASDAQ:PECO) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. Phillips Edison & Company, Inc. had a net margin of 9.91% and a return on equity of 2.64%. The company had revenue of $173.47 million during the quarter, compared to analyst estimates of $174.38 million. During the same period last year, the firm posted $0.59 EPS. Phillips Edison & Company, Inc.’s revenue for the quarter was up 10.1% compared to the same quarter last year. Phillips Edison & Company, Inc. has set its FY 2025 guidance at 0.610-0.640 EPS. As a group, analysts predict that Phillips Edison & Company, Inc. will post 2.55 EPS for the current fiscal year.

Phillips Edison & Company, Inc. Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 3.6%. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 223.64%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PECO. Wall Street Zen lowered shares of Phillips Edison & Company, Inc. from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Mizuho lowered their target price on shares of Phillips Edison & Company, Inc. from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Finally, Barclays started coverage on shares of Phillips Edison & Company, Inc. in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $37.00 target price for the company. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $38.50.

Phillips Edison & Company, Inc. Company 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.