Securian Asset Management Inc. Makes New $2.68 Million Investment in Phillips Edison & Company, Inc. (NASDAQ:PECO)

Securian Asset Management Inc. acquired a new position in shares of Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 81,200 shares of the company’s stock, valued at approximately $2,683,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Motco purchased a new position in Phillips Edison & Company, Inc. during the 4th quarter worth approximately $37,000. Asset Dedication LLC acquired a new stake in shares of Phillips Edison & Company, Inc. during the 4th quarter valued at $54,000. Advisor Group Holdings Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $64,000. Citigroup Inc. acquired a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $65,000. Finally, Royal Bank of Canada acquired a new stake in shares of Phillips Edison & Company, Inc. during the 3rd quarter valued at $74,000. Hedge funds and other institutional investors own 36.58% of the company’s stock.

PECO stock opened at $32.03 on Tuesday. Phillips Edison & Company, Inc. has a 1 year low of $26.51 and a 1 year high of $36.35. The company has a fifty day simple moving average of $34.22 and a 200 day simple moving average of $32.99. The firm has a market cap of $3.63 billion and a PE ratio of 139.26.

Phillips Edison & Company, Inc. (NASDAQ:PECOGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.41). Phillips Edison & Company, Inc. had a net margin of 4.61% and a return on equity of 1.08%. Sell-side analysts anticipate that Phillips Edison & Company, Inc. will post 2.2 earnings per share for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.08 annualized dividend and a yield of 3.37%. Phillips Edison & Company, Inc.’s dividend payout ratio is 469.57%.

A number of brokerages have issued reports on PECO. Mizuho lifted their target price on shares of Phillips Edison & Company, Inc. from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, February 15th. Zacks Investment Research raised shares of Phillips Edison & Company, Inc. from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, February 2nd. Wells Fargo & Company lifted their target price on shares of Phillips Edison & Company, Inc. from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. Compass Point assumed coverage on shares of Phillips Edison & Company, Inc. in a research note on Friday, April 22nd. They set a “neutral” rating and a $36.50 target price for the company. Finally, Morgan Stanley lowered shares of Phillips Edison & Company, Inc. from an “overweight” rating to an “equal weight” rating and set a $37.00 price objective for the company. in a research note on Wednesday, March 9th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips Edison & Company, Inc. currently has a consensus rating of “Hold” and an average target price of $34.50.

Phillips Edison & Company, Inc. Profile (Get Rating)

Phillips Edison & Company, Inc (PECO), an internally-managed REIT, is one of the nation's largest owners and operators of grocery-anchored shopping centers. PECO's diversified portfolio of well-occupied neighborhood shopping centers features a mix of national and regional retailers selling necessity-based goods and services in fundamentally strong markets throughout the United States.

See Also

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Institutional Ownership by Quarter for Phillips Edison & Company, Inc. (NASDAQ:PECO)

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