Eukles Asset Management Buys New Stake in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Eukles Asset Management purchased a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECO) in the 4th quarter, Holdings Channel reports. The firm purchased 4,174 shares of the company’s stock, valued at approximately $156,000.

A number of other institutional investors also recently made changes to their positions in the stock. Entropy Technologies LP boosted its stake in shares of Phillips Edison & Company, Inc. by 58.7% during the fourth quarter. Entropy Technologies LP now owns 29,954 shares of the company’s stock valued at $1,122,000 after acquiring an additional 11,083 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Phillips Edison & Company, Inc. by 14.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,954 shares of the company’s stock valued at $972,000 after purchasing an additional 3,354 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Phillips Edison & Company, Inc. by 0.3% during the 4th quarter. State of Alaska Department of Revenue now owns 128,465 shares of the company’s stock worth $4,811,000 after purchasing an additional 344 shares during the last quarter. Money Concepts Capital Corp grew its holdings in shares of Phillips Edison & Company, Inc. by 1.6% during the fourth quarter. Money Concepts Capital Corp now owns 81,886 shares of the company’s stock worth $3,067,000 after buying an additional 1,291 shares in the last quarter. Finally, abrdn plc raised its position in shares of Phillips Edison & Company, Inc. by 14.4% in the fourth quarter. abrdn plc now owns 121,605 shares of the company’s stock valued at $4,555,000 after buying an additional 15,274 shares during the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Phillips Edison & Company, Inc. Trading Up 1.9 %

Shares of PECO opened at $37.32 on Monday. The stock’s fifty day simple moving average is $37.38 and its 200 day simple moving average is $37.21. The firm has a market capitalization of $4.58 billion, a P/E ratio of 74.64, a price-to-earnings-growth ratio of 1.76 and a beta of 0.58. 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 posted its earnings results on Thursday, February 6th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts predict that Phillips Edison & Company, Inc. will post 2.55 earnings per share for the current year.

Phillips Edison & Company, Inc. Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 3rd. Stockholders of record on Tuesday, December 17th were paid a $0.1025 dividend. This represents a dividend yield of 3.13%. The ex-dividend date was Monday, December 16th. This is an increase from Phillips Edison & Company, Inc.’s previous dividend of $0.10. Phillips Edison & Company, Inc.’s dividend payout ratio (DPR) is currently 246.00%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Phillips Edison & Company, Inc. from $41.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company decreased their price objective on Phillips Edison & Company, Inc. from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Wolfe Research upgraded Phillips Edison & Company, Inc. from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Wednesday, November 13th. Finally, Mizuho raised their price target on Phillips Edison & Company, Inc. from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Three research 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 a consensus price target of $39.50.

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.